In our most recent episode, number 115, I had the honor of engaging in a profound conversation with the extraordinary Bobby Castro. This episode wasn’t just another entry in our series; it represented a deep exploration into what it means to succeed against the odds, guided by the wisdom of a true visionary. Reflecting on our dialogue, I am excited to share the insights and inspirations drawn from our conversation, offering a glimpse into the mindset and values of a self-made success story.
My Journey with Charlie Mullins on JT Foxx Podcast Episode #110
If you’ve ever dreamed of becoming a millionaire, one surprisingly effective route could be through the plumbing industry. It’s a field often underestimated, but as my guest Charlie Mullins, has proven, the pathway to wealth can indeed be paved with pipes and fittings. Charlie started as a plumber and built his business into an empire, eventually selling it for an astonishing £145 million. He’s not just a successful entrepreneur; he’s a vibrant, energized individual who defies the stereotype of the common tradesperson.
My Journey with Simon Beard on JT Foxx Podcast Episode #111
If there’s one thing streetwear enthusiasts and aspiring entrepreneurs can look forward to, it’s the insights shared by Simon Beard, the CEO and founder of the internationally acclaimed Culture Kings, in a recent episode of the JT Fox podcast. As someone who has paved his way to success and built a powerful brand that stands out in the competitive streetwear landscape in Australia, Simon Beard’s journey is nothing short of inspirational.
My Journey with Melanie Marlo on JT Foxx Podcast Episode #112
I’ve had the awesome opportunity to chat with some truly extraordinary folks about their paths to success. One of those standout conversations was with Melanie Marlo, and I’m excited to share some highlights from our chat in Episode #112 titled “She Went from Matchmaking to Flipping 25 Million Dollar Homes – Melanie Marlo.”
It Takes One Person, One Deal, & One Opportunity To Change Your Life & Business Forever!
When you hear the names Blockbuster and 7-Eleven, they evoke strong images—nostalgia, convenience, and huge brand power. Today’s guest on the JT Fox podcast, Jim Keyes, knows these institutions intimately. As the former CEO and chairman of Blockbuster, and former Co-chairman at 7-Eleven, he’s had a direct impact on these companies that have, in many ways, shaped popular culture.
Jim shares a personal anecdote, highlighting his humble beginnings: his first job was at a gas station followed by a stint at Blockbuster in Canada where he appreciated the simple perks like free movies.
It Takes One Person, One Deal, & One Opportunity To Change Your Life & Business Forever!
Welcome to the JT Fox Podcast Network where the world of business and entrepreneurship comes to life. Today, we have an extraordinary story to share. Get ready to feast on inspiration as we delve into the journey of a man who not only dreamed big but turned those dreams into a palpable reality.
Everyone wants to talk about branding, but do you even know what having a brand means?
There are a lot of things that go into the building of a brand, and regardless if you like it or not everyone has now become some level of a brand. Partly in thanks to the world of social media, and the accessibility that the internet has given us to both create and consume content, everyone is becoming a brand. So the first thing you need to realize is that right now exactly how everything stands, you are a brand!
JT Foxx with 3 of his coaches {left to right} George Ross, Hugh Hilton, & Mark Anthony Bates
Coaching… seems to be a popular topic today, but what is coaching? Who should get a coach? And does someone really need a coach? So I figured I might as well have a conversation about it and I will share my thoughts and my own personal experiences when it relates to coaches and coaching.
Real Estate is how I became a millionaire, and is a contributing factor to many of the millions that I have made, so clearly, I am a fan of investing in real estate. As I sit here in early 2021 and see what is going on in the real estate market I want to discuss what is happening and where the opportunity and risk currently is. We all know the basic idea of buy low and sell high, but the challenge is how do you know when it’s at the low and how do you know when it’s at the high?
Most everyone can recall, or at least is aware of, the crash of the market back in 2008. Back then banks were over lending funds and when the booming economy dropped, people weren’t able to make the payments on their properties and many people lost their homes. It was terrible for those that lost their homes, and a time of opportunity for people who were investors and were able to capitalize on it.
Now we are in 2021, certain markets in Florida, South Carolina, North Carolina, Tennessee, Texas, Arizona are seeing the real estate market at all-time highs as people are relocating to these states from larger cities, and states that have been in shut down because of COVID. In a lot of these states people can get larger homes, for lower prices than what they are paying in large cities. As a result, there is very low inventory and the market for an investor is very challenging right now. It’s becoming more and more challenging to get property at great prices in these places for investors. There is also a forbearance in place so people who can’t make their mortgage payments can’t be foreclosed on. Usually investors do well with finding people who are at risk of losing their home to be able to negotiate a better deal and that portion of the property market isn’t in play currently. It will come back, we just don’t know when and how it will roll out.
The opposite is happening in larger cities where people are leaving their places to go to buy homes in the suburbs or other cities and states all together. So, some larger cities are seeing pricing drop as the demand drops in those areas. There could be opportunities to purchase properties below market, but you have to have a strategy to hold these properties as flipping them isn’t going to be an option.
There is always money to be made in real estate if you know what your options are and you understand the market that you are doing business in.
I don’t have all of the answers but here is the best advice that I can give…
1. Don’t do a deal if it isn’t a great deal!!! Sometimes people want to do a deal so badly that they do a deal and it’s not a cash positive deal or doesn’t provide the returns needed for the time, energy and effort put into it. If the numbers don’t make sense don’t do it!! People are getting into bidding wars because they don’t want to lose and are forgetting what their max number is.
2. Know how to exit the deal! If you are flipping make it as fast of a turnaround as you can. If you are holding and renting make sure the rental rates are where you need them to be. Have your plan and make sure the numbers work with the plan.
3. Be ready!!! At some point the forbearance will end and it will change deal flow, so make sure you are ready for that. Know who you have to invest and what funding sources you have.
I will always be in real estate regardless of the market conditions, I will just adjust my strategies based on the market conditions. With the right information and experience you can adapt to anything and make it work for you!!
I have spent the last 33 days circling the globe meeting business owners and entrepreneurs from all over the world, and there are a lot of people that have the exact same problem. It doesn’t matter the business that you have, the industry you are in, or where you want to grow your brand personally, everyone has the same problem.
