One of the biggest mistakes people make when first starting out is focusing on the money rather than the people… but what they often don’t realize is that if you value relationships over income, business is unlimited! When you build your job around the people who like and love you, they’ll provide for your business in both the short term and the long term. That is the lesson that today’s podcast guest, Ricky Carruth, is here to teach us!
Ricky Carruth has built an incredible real estate business based on the core values of creating strong relationships and being a servant to others. Now, he wants to give back to the real estate community by helping new and experienced agents who want to take their business to the next level and beyond. Ricky is a hard worker, and the first completely-free real estate coach on From Zero to Diamond, a coaching company created to help agents differently by sharing a highly unique low-pressure approach. He is also an author and has been named the #1 RE/MAX agent in the state of Alabama on two occasions.
In this episode, Ricky will show you how to increase your personal income based on production, while setting long term investments that work as your foundation and provide sources of passive income. He will also let you in on his personal story that drove him to ground zero during the financial crisis of 2008, and led him into the ethos with which he carries business ever since: “relationships over transactions”. Ricky will share with you the biggest mistakes to avoid when first starting out in the pursuit of instant success.
“How can we be in a position where we can have unlimited income based on our production, that’s what real estate is. Having your real estate license it’s hard to get started, but it’s so worth it. If you put the work in and you’re committed, you can create an income like I have, 7 figure. And you can have disposable income to invest the way that you want to invest and then, you can take your life to another level. So I would say, long-term investing before short-term investing and work on just everyday just trying to get a little better to increase your personal income.” - Ricky Carruth
Podcast summary:
- (03:13) - A bit about Ricky and his background growing up in Alabama, and his mission to reduce the failure rate, one agent at a time!
- (07:01) - How winners make it happen, and why tenacity is key on your way to success.
- (10:35) - His first income hack, and his hard-work mentality.
- (13:23) - Why working hard is not enough and how adapting to the market and trying to figure out what works and what doesn’t is just as important.
- (15:03) - Concentrating on the relationships (the beginning) and not the money (the end), and how being people first will bring you unlimited business.
- (18:55) - His biggest income mistake, and why getting too much in debt while searching for easy gains is not the right approach.
- (19:54) - Why long-term approach to prospecting will get you short and long term business, and how to win long and short.
- (21:27) - How to mitigate the risk when investing in flix-and-flip properties, and the power of disposable income.
- (25:03) - How to get ahead, move quickly and sell a house at the best price when the market changes.
- (28:33) - His biggest Income Hack Success, and how he turned his life around during the foreclosure era, from living in a car on his way to seven figures.
- (33:34) - His advice on starting your financial journey from ground zero.
- (37:19) - The right mindset to keep when becoming a real estate agent, and why YOU are only 90 days away from your first paycheck.
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