Feb

My Friend Byron From Denver… A double success story!

By Emily

Back when I got started investing in real estate, I signed up for a coaching program with Mentor Financial Group, I’ve probably told that story before.

I remember when I got started there was one “really cool” student who was a few months ahead of me in the coaching program. His name was Byron Walker and the reason he was “really cool” is that he was already having pretty significant success picking up rental properties in Denver after just 3 months in the program. When I went to a 3-day live training event in Denver, Byron – who lived nearby – came to the event and shared his success after just 3 months in the program and encouraged us to get started!

I remember saying, “Wow, Byron is cool!” – If HE can do it, maybe *I* can do it, too.

(Not that I was anything approaching cool, but just because Byron seemed so real and accessible, which he is…)

I was just talking with Byron last week about Phil Pustejovsky’s short sale teaching program, which I mentioned to you in my last post, to see if he wanted to share it with some of the investors that he knows. (He did – he was excited to get started…)

But I also found out from Byron that he was involved in something other than real estate investing now. basically doing some marketing on the web that had gone from making him $40/day to $1,000/day. I couldn’t believe it, so I had to check out it. When I went to this website, I actually saw a video with Byron as ANOTHER SUCCESS STORY. (He’s the first guy on the video, saying he’s “new to the game…”)

I want to pause here and point out two things…

It is very common for real estate investors to supplement their investing activities (which are really long-term wealth-building investments with BUSINESSES which are short-term cash-creation vehicles. In fact, my partner Rob Powell and I have a website about commercial real estate and associated topics in which we delve into this philosophy more. The bottom line is BUSINESS for cash flow, and REAL ESTATE for wealth.
It’s interesting to me that Byron would be “held up” as an example of a success story in two separate businesses where I have watched him succeed. Why is it that “some guys have all the luck?” What is Byron doing to distinguish himself here?

From what I can see… a few things distinguish Byron:

Byron pays for the best education… He has probably paid over $10,000 to learn real estate investing and another $10,000 to learn about affiliate marketing.
Byron sets his sights high. When he enters a business, his goal is to make a lot of money, not just to “cover his bills” or “scrape by.” After all, he’s got a wife and kid to feed and a mortgage to pay!
Byron is willing to pay his dues. There are a lot of people out there who dabble in business ventures. They learn a business model, try it for a while, and when it doesn’t work – they find something “Better” and move on to the next thing. Byron sticks with the same thing until he gets it right, until he masters it. In this case, it only took him about 6 months to go from zero to making significant money with is affiliate marketing business.
He dumps the losers in a hurry. I have seen Byron work on things that didn’t take off for him, but he didn’t work on them long. From what I understand about his new business, you have to weed out the losers (10-20) to find the ones that work… seems like he’s found an effective system for doing that. Rather than hem and haw about what will work and what won’t… Byron tries things, gets a lot of data from his tests, and makes decisions based on FEEDBACK, not based on his own projections (which could be right or wrong…)

I think these are characteristics we can all learn from whether we’re in business, real estate, or just trying to be the best opportunity evaluators and decision makers we can be!

Til next time!

Emily

P.S. Oh, this is what Byron is doing now to make $1,000/day – check it out!

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