Imagine making millions but losing time with your family in the process. There’s a better way and we’re going to learn about it in this episode as well as a unique way to structure deals, and what better way to learn than from someone who’s excelled in it themselves! Corey Peterson, ‘The Big Kahuna’, is the owner of Kahuna Investments. Corey has managed and acquired over $95 million in real estate across the country. He is the bestselling author of “Copy Your Way To Success – Standing on the shoulders of Giants” and host of the Multi-Family Legacy Podcast. He speaks around the country on this subject to some of the biggest names, including at Harvard and Nasdaq.
You don’t have to choose between time and money. Dive into the episode and learn from Corey how to make millions without losing your time freedom.
Living by a Different Set of Rules - [00:01 – 05:41]
I welcome Corey Peterson
Corey gives some background on his venture into real estate
Seeing the benefits of ownership
Living life through differently through real estate
Naming the company
The wonder of making private money
How to Make Millions Without Losing Your Time Freedom - [05:42 – 17:25]
Corey shares the roadblock he hit in his early career
How doing too many things affected his family
Realizing something needed to change
Transitioning into multifamily
Corey’s first deal
Bought at $3.2 million
Raised $1.4 million in private money
Maid $4.7 million in profit
The importance of scheduling your time
Prioritizing the most important things in life
How to enable yourself to get time freedom
Acquisition fees and asset management
Every deal should have at least a 2% asset management fee
Don’t try to ‘sprint’ forever
You’ve Been Doing Deals Wrong - [17:26 – 27:53]
Corey shares about how he structures deals
You’re giving up way too much of their money
Finding the right investors with consistent income
50/50 or 60/40 on depreciation
How this benefits you as the investor
A true 12% return
More money = better return
Chase smart money
The wisdom of hiring a financial advisor
Final Questions - [27:54 - 37:13]
A gift for the audience
What is your biggest failure?
Not knowing the operating agreement on the first deal
Know thy partnerships!
How are you making the world a better place?
Be a supplier of fun
What is your superpower?
Putting all the pieces of a deal together
“Kids don’t even care about how much money you make, they don’t care two sh*ts about it. The only currency they care about is time, the time currency matters to them.” - Corey Peterson
“Either you sprint or you learn to marathon… You cannot sprint forever.” - Corey Peterson
“I think that what we need to do every day is willing to fail and take the steps into the unknown as we start our journey… But if you copy others you get there with a lot fewer scrapes on your knees.” - Corey Peterson
If you want a free copy of Corey’s life-changing book, Copy Your Way to Success, text the word ‘Book’ to 480-500-1127.
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth!
Click here to find out more about the host, Chad Sutton.