Lee Arnold is a man who has built some incredible business empires in the real estate investing space, but more than that, Lee has built incredible ministries as well. In many ways, Lee has failed but has a powerful message and story of how some of the most successful businesses are born from failures.
Listen in to the immense wisdom and experience from Lee Arnold!
Key Talking Points of the Episode
00:00 Introduction
02:15 What was the biggest lesson Lee learned as a new investor?
04:09 How did Lee get into real estate investing?
08:00 How does Lee help change people’s minds about real estate investing?
10:11 How does Lee’s program help new investors become successful in real estate?
12:45 Why do some people fail to find success in real estate investing?
16:30 How is the current economy affecting Lee and his businesses?
21:05 What does the market in Idaho look like today?
24:27 What challenges are there in building affordable housing today?
26:29 Why is Lee passionate about business leaders and their faith?
29:19 What is one big mistake Lee made in business in the past?
32:15 Why are debt and leverage not equivalent to income?
35:33 Who would Lee want to spend an afternoon playing golf with?
Quotables
“When somebody told me that funding is attracted to opportunity, not people, that really jumped out at me because I was the least attractive person from a financial standpoint.”
“For most people, real estate is the most accessible thing because if there’s two things everybody needs, it’s food to eat and a place to live.”
“I love passive income, I love cash flow and turnkey real estate, but I think for some, they buy it too early and they don’t have the cash to weather the storm of vacancies or a heater going out, or a tenant trashing the place.”
“I don’t know how people who do not have faith in God run a business because it is stressful.”
“Stay humble, stay in affordable housing, stay in the 5-point criteria that I gave you. There’s nothing wrong with wanting to buy skyscrapers and build giant properties but if you can’t do it with cash, don’t do it.”
“Stick to the fundamentals, stick to the basics, and if you will do that, you will have a very successful business.”
