Welcome to this episode featuring Steven Pesavento, a seasoned real estate entrepreneur and Managing Partner of VonFinch Capital.
With a wealth of experience amassed since 2016, Steven has navigated over 200 transactions, spearheaded the renovation of nearly 100 houses, and facilitated over $180,000,000 in investment real estate. His track record speaks volumes, with investors entrusting him with over $40 million of capital, resulting in consistent, solid returns.
In this enlightening conversation, Steven delves into the critical role of mindset in the realm of investing. Drawing from his own journey and insights, he shares invaluable perspectives on harnessing the power of mindset for personal development and financial success.
Join us as Steven unravels the psychology of investing, offering strategies for overcoming fear and navigating the ever-evolving real estate market. From insights on managing capital calls to mitigating potential losses, Steven provides invaluable guidance for both seasoned investors and those embarking on their investment journey.
Tune in as Steven underscores the transformative impact of continuous learning and the importance of replacing working income with passive income streams. Whether you’re a seasoned investor or just starting out, this episode promises to inspire and empower you to elevate your mindset and achieve your long-term investment goals.
Don’t miss out on this opportunity to gain insights from one of the industry’s leading voices. Tune in now and embark on your journey to financial prosperity with Steven Pesavento!
Get my new book: https://bronsonequity.com/fireyourself
See Full Transcript:
Bronson Hill: All right, so as an investor, I think it’s so important to manage your own psychology. A lot of life, and even Tony Robbins says this, about 80% of life is just having the right psychology, having the right mindset.
Only 20% are taking the right actions. If you get yourself in the right state, meaning you are making the right choices, you’re approaching things the correct way.
This is why I’m so big on the morning routine, affirmations, reading books, and continuing to grow because as you grow, it changes the way you look at the world. You make connections that you would not have made.
And I find most people don’t do it. But I know because you’re listening to this and you’re watching this, you are going to be getting all those benefits. So this interview today with Steven Pesavento is awesome.
I love Steven because he talks a lot about mindset, on his show, the Investor Mindset Podcast. I’ve been, I guess, there are a couple of times, a great show. I highly recommend you check it out.
But let’s jump into this interview. I think you’re going to get a lot out of this. Welcome, Steven.
So excited to have you today. How are you doing, man? Oh, I’m excited to see you, my friend.
Yeah, it’s always good to see you, man. I always appreciate it. I always feel like I learned something when I talked to you and I know we’ve worked on some deals together in the past.
We’ve been friends for a while and I just really love how you’ve integrated mindset into your life and into your business as well. So it’s a rainy day here in LA, which is a little unusual.
I know you’re dead of winter in Colorado, but give us a little bit of your story and what kind of where you’re coming from and just let people know kind of how you got started and how you got to where you are today.
Steven Pesavento: Yeah. So the short version of it, I had never owned a piece of real estate in my life, and back in 2013, I was going on a little trip and decided to rent out my place on Airbnb and realized that I actually got to go on vacation and get paid to do it and quickly.
That ended up turning into three Airbnb is back in 2013, early days, and I was using that to fund and bootstrap another business that I was running. And in the end, about a year later, I realized, well, why am I still trying to run this other business? This is such a great strategy.
And at the time, I still didn’t even own any of those properties. I had rented them. They call it arbitrage.
Now, back in the day, we were just renting apartments and doing Airbnb, but then fast forward, start flipping houses in 2016, flipped over 200 houses in two and a half years, fast forward to 2019, and started raising capital and investing specifically into multifamily, the same strategy that I had been using when I was flipping houses, but now applying that to a much larger asset that we go in and do all the same type of construction and upgrades.
And, in the past 10 years have bought over $180 million of real estate, raised over $50 million of equity and private notes, and have just continued to cycle that cash to be able to grow. And I think what I love about investing is that it’s given me an opportunity coming from very low-income type background to be able to not only step into entrepreneurship but to also be able to build wealth and have a lot of fun doing it.
Bronson Hill: Yeah. It’s amazing about real estate. I tell people, you know, I don’t love real estate and they’re kind of like, well, don’t you do real estate?
And I was like, well, it’s not the real estate itself. It’s what it allows you to do the life that it enables you to live. And I know you’ve experienced this a lot and I have as well, just the financial freedom of really having time freedom and location freedom and being able to kind of structure your life really how you want it.
You know, one thing I do want to get in on this interview about is you’re big into mindset. You’re a big mindset guy. I know you’ve done personal development stuff for years and years and Tony Robbins and all kinds of different things.
But talk to us a little bit about how mindset is really important, has been important for you, and how it impacts investors.
Steven Pesavento: Yeah. So mindset is what you think and what you believe and it directly leads into the actions that you take. Therefore the outcomes you experience in your life.
And what I love about understanding how the mind works is that when you start changing those thoughts and beliefs, you start changing the results that happen and therefore you change your life.
So I started down this path of personal development and studying, you know, great leaders many, many years ago, I didn’t have a lot of great mentors right around me in my hometown or my house. And so I had this burning desire to learn like, how do I not experience the type of challenges that I was experiencing growing up?
I wanted to learn how to be a better communicator. How do I go out and create income? How do I, uh, have the confidence to go and take the actions and take the risks and learn from the failures along the way?
And so I dove really deep into this idea of, you know, growth and personal development. For me, it’s changed my whole life because it’s given me a different lens to look at the world through. And even along this path over the last decade of building this business, my view of what is the most, most important necessary thing for me to be doing in the business and in my life has changed and it evolved.
I think that’s what’s so beautiful about this path of learning and growing and really focusing on mindset. And you’ve been on the investor mindset podcast, I’ve been doing this show for almost five years, millions of downloads, and it’s been really incredible because I’ve got to interview extremely successful people and there are some things that are very similar along all of them, but the best part of it for me has been that focused attention on thinking differently and really taking on the investor mindset and what that really has meant for my life.
Bronson Hill: Yeah, it’s amazing. Mindset is such a big part of investing that even the quote by Warren Buffett, “Be fearful when others are greedy, and be greedy when others are fearful”. There’s a lot of psychology that goes into life, but also into investing.
And most people statistically invest at the wrong time when things are too high and when things are crashing, they’ll want to sell and they’ll panic.
What is a way? And even if people kind of know that it’s hard to be able to manage that, like how do you tell yourself, okay, it’s time to take chips off the table when things are going well, or how do you double down when things have crashed and everybody there’s blood in the streets.
I mean, what are some things that, I think of minds, that’s kind of what comes to mind. Maybe there’s some other things that come to mind for you, but I just love to see when somebody’s looking at investing, how do you approach that type of thing with fear and greed?
Steven Pesavento: Well, I think one of the most important things people who are listening can do, it’s what I do myself in my own life is that when you’re new to something, when you’re going out and you’re learning, you’re listening to podcasts, you’re showing up to events, you’re paying for coaching, you’re paying for training. You’re soaking up all of this knowledge, but that knowledge is worthless. If you don’t put it into action go and take some risk in your life.
And that risk could be very small. It could be a very small investment. It could be a very small action that gets you moving in that direction.
But when you take that action and you turn that knowledge into experience, which turns it into wisdom and gives you confidence, that’s what allows you to go through the really hard times, because I can tell you a statement like when there’s blood in the streets, that’s the best time to invest, even when it’s your own blood, but especially when it’s your own blood.
And you hear that and you think, Hey, well, if everyone else is fearful or people are losing money or there’s capital calls in a specific sector of the industry, these challenges are happening. I should be triggered to recognize that, Oh, that means that there’s an opportunity here.
And if others are pulling back, I should find a way to intelligently push forward until you actually go and do that, until you have that experience of seeing challenging times and then rushing into finding the right opportunity, you will stay stuck in fear, right?
Because one of the things that is happening in the market right now is that it’s challenging the fed raised rates significantly and that’s causing a lot of problems. The irony of this is that all of the investors who invested in late 2021 and 2022, they most likely will only know looking back, but they most likely invested at the top of the market, right?
The market has come down which happens to likely be the peak. Those investors, in particular, are 100% the people who should be investing in 2023 then into 2024, and then into 2025, they should continuously and consistently make investments when the market is going down so that when the market comes back up across their entire portfolio, they’ve got a dollar cost average total return. They’re going to be in a better position.
Yet what I find when I talk to my clients, when I talk to my partners, when I talk to the investors who work with us, some of the people who invested at the top of the market that were new to the space, they lacked the experience to recognize the opportunity that was in front of them that they invested at the top.
Therefore, now they’re going to wait it out and see how that investment goes, which is the biggest mistake that they can make because then they’re missing the bottom of the market and therefore fixing or spreading out that return, the potential reduction in return on the original investment and the increased return on the new investments that they’re making moving forward.
Yet until you’ve actually gone through that, unless you just purely have blind faith, until you have that experience, it can be very difficult for you to move forward.
Bronson Hill: Yeah, it’s like when I used to paper trade stocks as a kid or in middle school, high school, it was very different than having money in the market, right? It’s a totally different thing. It’s like somebody’s a spectator in the crowd and they’re talking about how the athletes should have done whatever.
Well, you’re the one who’s got the helmet on and you got the pads on and you’re going to be tackled by some 300-pound guy or something. That’s a whole nother thing, right? It’s the same type of thing.
Now there’s this book called Thinking Fast and Slow. Great book, quoted a lot. This psychologist talks about a lot of the biases that we have.
One of them is we overweight losses as opposed to gains. So people remember losses at least twice as much as they remember gains. And so they asked this thing, they said, if we were to give somebody a choice, 50-50 chance, Steven, I’ll give you $100, but it’s a 50-50 chance that you’ll lose $50, right?
So, all day long, we should do that, right? That’s great, statistically, it’s better to, but most people will not do that bad because they’re afraid of the losses. And so what would you say to someone who’s, you know, a lot of people we talked with, you know, or 1500 investor calls I’ve had, I know you’ve had a ton as well.
What do you say to someone who has kind of analysis paralysis that’s been looking around for a long time? Like, is it a good time to invest, Steven? I don’t know.
Like what do you say to someone who kind of like isn’t in the game yet to actually get them kind of moving?
Steven Pesavento: So I think the best thing that you can do is you go through this in phases and it’s a circle and it continues. So you go out and you gather knowledge and, and you’re in that phase of your life where you’re learning about something, you’re doing that analysis, and then there has to be a clearly defined time when you’re saying, Hey, I’m going to make a move. I’m going to make a move and I’m going to learn from that move.
And the intention of making a move when you’re getting started investing is not to make money. This is a huge misconception. When you’re just getting started, the intention of making that move is to learn a lesson, to be able to take the knowledge and turn it into wisdom so that you can then have confidence to make bigger moves and make more of the right moves and less of the wrong moves because you always hear, okay, when I’m investing.
I want to make sure that I don’t lose my principal because as long as I don’t lose my principal, but I continue to get returns, then I’m going to continue to see a compounding effect that can be very big. But if I lose, you know, 50% of my investment, I have to get much more than 50% return to get that investment back. So if you go into it from the perspective of, Hey, I’m going to make a very small bet.
I’m going to invest 25,000 or 50,000, depending on where you’re at, that might seem like a lot of money. But when it comes to private investing, it’s very difficult to get in without making a sizable bet in that range. But the intention is to take action and then start taking some lessons from that.
The opposite of this would be you’ve got a million dollars available to invest. You’ve never invested in private equity before and you decide to invest all $1 million into one project or property. That is equally as big a mistake as not making any actions because you don’t yet have the confidence or the wisdom to be able to know what is the right move or wrong move to make.
And you might make the right decision and it might work out well, but you may have made it for the wrong reason. So there’s a phase in this process that I really believe it’s important that you go into it from a perspective of I’m here to learn and to take on this experience.
And the fastest way to increase the speed of that experience is to make some of those small bets, to then observe how they go, to then continue to gain knowledge and stack that on top, and then continue to increase the size of those investments that you’re making so that you can be in that position to start seeing the results.
Bronson Hill: Yeah, it’s almost exactly the formula I have in, my book Fire Yourself is to start, instead of an end date of, hey, I’m going to give myself this amount of time, look at a number of deals. And then when you’re ready, you get comfortable investing a small amount because it’s all just information until you actually are in the arena and you’re actually taking action toward it. Let’s talk a little bit about today.
I mean, obviously, we’ve been friends for a number of years and it looks very different than it did a couple of years ago in real estate. Interest rates are higher. You know, some valuations have come down a bit, which has led to in some places much better deals.
You have your multifamily, you’re also doing stuff in your promissory note fund. Talk a little bit about kind of what you’re seeing in the market for some of the opportunities kind of in your business now, just kind of what you guys are doing, what you like currently.
Steven Pesavento: So first off, I’d say there’s an amazing opportunity in the market, no matter what’s happening in the market, things can be more challenging, which creates more opportunities in another area. So I’ve been in the real estate space investing for nearly a decade. And since the first day that I got into investing, what I heard was this is the year that the market is going to crash.
I heard that for eight years straight since the first year that I started making investments full-time. And every single year I hear that this is the end of the market. So what’s difficult for other people to understand if they haven’t been around for a very long time, is that the market goes through cycles and that you can’t really predict exactly when that cycle is going to end.
It was very likely that the cycle was going to end in 2020. Then they injected trillions of dollars into the market and the market stayed, stayed great for another two years. And then, of course, the Fed decided to start raising rates, and that made the market really challenging and difficult.
And so if you have this long term perspective, even when the cycle changes, if you’re still thinking about it from a long-term perspective, the results that happen year to year should not have an incredibly huge impact as long as you’re approaching it in the right way. So what I’m seeing in the market today is it’s much more difficult to get debt and it’s much more difficult to find deals that have the type of returns that we in our business need to create. So typically we’re doing heavy construction value at deals.
We’re typically seeing returns that are, you know, 20 to 30 percent average annual returns. Sometimes they can be a little bit lower. Sometimes they can be much higher.
But we’re in particular looking for a specific type of product in the market. We’re looking to find something that’s in really rough shape that’s been misoperated and that we can come in and fix those problems, upgrade the property, install better tenants, and then turn that property around for sale within a three to five-year period or sometimes even shorter. That’s the main strategy.
We have an income strategy as well. Yeah. But in that market in particular, what I noticed was that in 2023, if and when we had cash on hand, we were able to get deals where we were buying at 2019 and 2018 prices, meaning we were buying 30 to 40 percent discount compared to what other properties were selling at if we could find those sellers that had a motivation, a distress.
And so what’s phenomenal about this is it brings me all the way back to the beginning of my investing career where I was buying hundreds of houses from individual people who had a specific reason they wanted to sell. So with that, the irony of the situation is that more people in the market were scared. So they were not investing as limited partners.
They were not putting their cash up. So we’re finding the best deals that we’ve seen in three to five years, and yet there’s less people who are willing and interested in putting their money up because now they’re in that fear mode. And so it’s the irony of the situation where this is one of the best times to invest, yet one of the best times to invest because other people around you are not making that move.
And so we put together a fund. We acquired quite a few assets. We’re going to continue moving forward into this next year, doing the exact same strategy with similar type of projected results.
But what’s so cool is that even while people are scared, there are still other people in the market who are buying. So just last year, we bought a property for a very low amount of money because we had changed our strategy and we bought it for about one point two million. And six months later, we have it under contract for sale at two point four.
So we were able to create quite a bit of value because we bought it from somebody who had to sell. We fixed it up and then we were selling it to somebody who has a very different strategy than us and a very different capital structure. So we’re able to create a big return in a market when a lot of other people aren’t able to buy.
So the long story of this is that there is opportunities available. The key is to find the right people who have the right experience connections, which I call insider deals. And those insiders then are able to find opportunities that most people can’t.
And that’s how you make the most money when it comes to investing in private equity and private real estate.
Bronson Hill: Yeah, it’s a great point. I mean, we’ve watched, we’ve raised at times just, you know, millions and millions of dollars in a very short period of time and twenty-four hours or whatever. And then other times, you know, like right now it’s investor sentiment has changed and it’s it’s do we talk to it’s harder to raise money these days.
One of it, I think, is if somebody’s had a challenge and a deal or there’s been a capital call, there’s been a loss or whatever, it’s more challenging when, hey, I’m going to put more money in. And so there’s that kind of wealth effect kind of as well. But in reality, you know, especially with interest rates are higher.
I mean, you know, when you buy the buying price of a property is fixed, but the interest rate you could potentially adjust later or if rates come down as they’re pretty much everybody’s forecasting this year, they’re going to come down somewhat from the rate drops and we’ll see they may even come down more if there is some sort of stall in the economy or something happens significantly.
Do you have any other like I know nobody has a crystal ball. I’m not expecting you to have a crystal ball.
But do you have any other you know, I know there’s kind of people know, OK, generally I should be investing, invest when being fearful and be greedy when others are fearful, which we’re seeing some fear out there. But what else do you think? I mean, do you think that it’s going to kind of go according to plan where the Fed will raise or see the lower rates several times this year?
Or do you think we are going to have a soft landing? Do you think it’s possible to have a soft landing? You know, what are what are some kind of potential opportunities that you’re seeing that maybe most people wouldn’t normally notice?
Steven Pesavento: So first, I’ll tell you how I’m operating in the market, the kind of deals I’m doing, and the kind of things I’m looking at. And then I’ll tell you what I personally think. So the way that I’m operating the market is as if interest rates are not going to go down and that if anything, they might go up.
So I’m underwriting deals that are going to show that this opportunity continues to be a deal that we want to own and that produces income and that we’re able to create that kind of appreciation that gets you to a 20 to 30 percent average annual return. I’m underwriting as if the market is going to stay the same or get worse. Or as if cap rates are going to continue to go up rather than come down.
I’m underwriting in a way that I want to make sure that because I’m giving 85 percent of every dollar to investors, that I’m able to get to that 2x multiple where I’m able to receive a larger percentage of the profit after investors double their money. So I’ve got a specific structure in my deals that allow the alignment of interest to be very investor-focused. And then once we hit it out of the park, then we start profiting and participating in that.
So I’m underwriting as if everything is going to be worse and I have to plan for five years into the future despite the projected timeline on these deals being two to three years. So I’m underwriting and looking at the world as if it’s going to get worse. Yet, I personally believe that the world is going to get better.
I personally believe that interest rates are going to stay higher, longer than people are projecting. But I do believe interest rates are going to go down. When interest rates go down, values will go up because cap rates will go down and the cap rate is a multiple that leads to the value of these properties.
So my personal belief is that there’s going to be much more upside than what I’m underwriting to. But I’m underwriting into a world where I can hit that type of return. And so why that’s really important is because all private equity is not equal.
Private equity comes down to the operators and the partners and their insider connections that lead to the ability to create outsized returns. So if your listeners aren’t familiar, over 35 years, the S&P has created an average of about a nine percent return. Private equity over 35 years has produced a little over a 14 percent annualized return.
Part of the reason that private equity typically can create a higher return on balance is because of those insider relationships and those insider connections and the insider information that you cannot use in the public markets. If you know something I don’t know in the public markets, you’re going to go to jail. But in in real estate and private equity, it’s not only acceptable but it’s expected.
So I believe that things are going to get better. I’m an internal optimist. I believe that through every winter there is always a spring and then there’s a summer and all of these things that come from the challenging times end up leading to better times.
And so the way that I would recommend other people look at it is what can I invest today that I’m comfortable having parked for five to 10 years and maybe it’ll cycle multiple times through that period. But if I can have a longer outlook while making investments that have the ability to be shorter term, then I can create a much higher return because one of the things that I personally look at, I believe in this concept called name your number. So understanding the exact amount of money that you need to live the life that you want to create.
And so if you know your number and let’s say that number is $10,000 a month, I know that if I have 1.6 million earning me 8% on a fixed income note I have $10,000 coming in every month. So if I have $100,000 and I’m going to invest that I want to continue doubling it until I get to 1.6.
So I’m going to turn one into two and two into 400,000 four into eight and eight into 1.6. And so in those three to four multiplications, those doublings, I’m going to be able to get there even with what I would consider a very small amount of money. And so if you think from this long-term perspective with a target in mind, the answer is you should absolutely be investing today.
Not because it’s going to help me or my business or Bronson or his business, but because you need to continuously make those investments over a period of time that will end up leading to the compounding effect to get you to your end goal.
Bronson Hill: That’s good. Steven, you’re always so well so well put together in your words, man. I always admire that about you.
We got a few more minutes kind of on the interview. I just wanted to ask you I think a lot about education. You know, I made a goal with myself to read a bunch of books in 2023.
I was able to read and listen to 98 books and a lot of books. People say audiobooks don’t count. I was like, no, they count because you get to.
It helps because I do retain pretty well. But what are some things that you do or maybe that you would recommend as far as education for investors that are like, I know I need to like, this is all great what’s happening here, but there’s a lot more context. There’s really nothing new here.
So by reading books and understanding whether it’s about investing or mindset or personal growth, what are some of the books you recommend or even other educational sources that you might recommend?
Steven Pesavento: Well, I think investing yourself leads to the biggest ROI because it’s getting you that knowledge and then you take that knowledge and you create that experience we talked about, which is wisdom when it comes to reading books and consuming information, I believe there’s kind of different phases. So I believe there’s a phase where you’re just kind of soaking in as many different types of information as you can. Early in my career, I listened to hundreds and thousands of hours of podcasts and audiobooks.
Go to the library and rent an audiobook. I would listen to it. I would have three or four more lined up and I always had an earbud in my ear because I was always consuming information.
So I’m flooding my mind with more and more information to help me change the way that I think and therefore change what I’m actually doing out in the world.
And then I think there’s a phase for me personally, what’s worked for me is going from that I need to learn as much information as I can to I need to study and master a small number of topics. And so what I’ve actually been going through in phase two is really more of a instead of a volume perspective, it’s really turned into how can I study and reread this book, re-listen to this book?
How can I take the principles and put them into action in my world so that I can start seeing different results? And so recent, I have personally not been listening to a lot of investing books because I feel that I have a pretty good understanding, but I’m always looking to learn.
So I’ve been diving into a lot of Joe Dispenza really learning about the mind and meditation and how to put yourself into alignment so that you can go out into the real world and make those decisions with the knowledge and wisdom experience that I already have.
How can I remove the emotion of the moment and be able to make a smart choice? Because as an operator, as a sponsor, as somebody who is out there making decisions on behalf of, you know, millions of millions of dollars of people’s money, I need to be able to be centered while the storm is going on around me.
And so I’ve been spending a lot of time just really digging deep into that and spending that time meditating and going to events that are focused on kind of centering and finding that alignment so that I can then make a bigger impact in the world.
Because I think what I’ve realized and we’ve talked about this offline, personally for me, you know, at the beginning of my career it was very much focused on getting out of a very bad place, you know, really changing my environment, changing the people I spend time with, changing my financial acumen and start building wealth.
And then there was a certain point where I realized and this happens to people when, you know, they lose a job or, you know, they lose a loved one in their life or they have some really difficult thing happen, a divorce, some type of experience that really makes them wake up and realize that, you know, life is very different than this achiever, have to climb that achiever mountain.
For me, it happened about four years ago when I lost my sister, she died in a car accident, it was no one’s fault, couldn’t blame anyone else, but had to really experience the tragedy and the challenge of that happening.
And what it made me realize is that one, life is short, we don’t know when we’re gonna go. So it’s a big motivating factor into doing these types of investments to set up my future family to be supported if anything should ever happen to me. But the other side of that was this realization of the importance of actually making an impact, touching people’s lives, changing things for them directly.
So it’s kind of ironic because people come to invest with me in my firm because they’re looking for a financial monetary outcome. But for me, the driving factor, the driving force is actually what that monetary outcome will do for them personally.
And then in the process of talking about investing is actually talking about, you know, how do you create a good life and creating a good life from what I’ve understood and what I’m experiencing and trying to find my way towards is actually doing things selflessly for other people.
It’s really about building community and connecting with people and helping people who may not know how to help themselves and kind of be a guide. So that’s been my journey as far as, you know, consuming crazy amounts to really diving deep into a topic that I feel like is making a big impact for me right now.
Bronson Hill: Yeah, that’s huge. And I think you touched on a number of things there. I think that there’s also a huge link between personal development working on yourself and career-wise.
I mean, Brian Tracy I think says if you want to earn more, you have to learn more. And it’s not the only reason to do it is to jump in and to learn more. But it really does change how we approach life.
And I’ve had breakthroughs in my personal development or my personal life that have led to breakthroughs in my business. Just my limiting beliefs or other things about that, which I think is really amazing. Steven, I really appreciate you.
Steven Pesavento: Let me just share a couple books that kind of really align with that. So if you are interested in the meditation and the metaphysical and how that can apply to your life, Becoming Supernatural from Joe Dispenza, is absolutely a great book. Pretty scientific for those of you who aren’t super into that.
But it’s worth spending the time on that because you start understanding the power of this. But the other two books I’d recommend are From Strength to Strength and then a second book called The Second Mountain. And both of these are about this phase in your life when you realize that there’s another intention, that you’re meant, another purpose that you’re meant to put out into the world.
Bronson Hill: Yeah, that’s amazing. I have Second Mountain. I haven’t heard of that one.
I’ll have to look that up. Awesome, brother.
Okay, perfect. I’m always taking notes, man, because I’m always trying to learn, always trying to pick up things. So when someone like Steven Pesavento makes a book recommendation, I’m gonna write it down.
Thanks for what you shared, brother. Thanks for what you add to people’s lives through your podcast, through your life, through your investing, and through how you’re really helping people to get where they wanna go and really find their number. So I just wanna honor and appreciate you for that.
How can people follow you get in touch or hear about your podcast?
Steven Pesavento: Yeah, the best place is the Investor Mindset podcast on any channel that you can think of, InvestorMindset.com. If you’re interested in investing with us, Vonfinch.com has all the information. You can talk with members of my team.
We have a 17 year certified financial planner that helps investors with understanding how to actually approach this concept beyond just making the investment to actually help strategize and plan for what you’re looking for.
Bronson Hill: Awesome, cool, brother. Well, appreciate you, man. Looking forward to seeing you soon.
Hopefully I’ll get out to Colorado sometimes. We’ll get on the slopes together and we can do some skiing or snowboarding, man. It’d be great, but really appreciate you being on the show today. And we’ll have to have you back again soon.
Steven Pesavento: I love it. I really appreciate and thanks for listening. I just remember that the reason we do this is to create a better life. And that there’s gonna be challenges along the way that are expected. It’s how we face those challenges that end up leading to us actually getting the result.
Not about everything happening all at once. It’s about staying consistent and continuing to build towards that good life.
Bronson Hill: That’s right, the obstacle is the way. Somehow we can leverage it to our advantage. So thanks so much, Steven, appreciate you, brother.
Okay, so Steven gave a lot of great recommendations and just things you can do to grow. I have a big idea that leaders or readers people that read are people who can really start to make a difference in the world.
There’s that quote, “You’re the average of the five people you spend the most time with, but there’s also that you’re the same person five years from now except for the books you read and the people that you meet”.
So it is networking, it is who you’re around, but it’s also the information. It’s also all of the stuff that you’re learning and a lot of that comes through books. So he gave a few book recommendations there.
I encourage you to check those out. And I hope you got something out of this episode. We also have some free resources for you.
If you haven’t got a hold of my book, you’re behind me, Fire Yourself at Amazon. We’ve just gotten to 100 reviews recently and so we’re kind of on a way. We’re getting a lot of traction on that, which is great.
So, if you haven’t checked it out, it just talks to you about how to plan. And how to replace your working income with passive income in three years or less. How to get started, and actually passive investing.
So if you’re on the fence, you haven’t actually invested or maybe you have. But you’re just kind of feeling a little bit held back to what’s going on in the economy.
It’s really important that you keep taking actions. Whether that’s educating, making a goal to invest or finding things that are non-real estate investments.
We do a lot of non-alternative or non real estate investments that are alternatives. Such as ATMs and car washes, oil and gas, and different types of things. Because there are a lot of things out there that can really meet your needs. So keep going after it. Keep pursuing what you need.
Find a way to replace your income with passive income or just find a way to generate it. Maybe you don’t need the income. Maybe you have a business or you just love to have a way to have your money work for you.
This is what we’re talking about here. So thanks for taking the time to educate yourself. We’ll look forward to seeing you on the next episode of the Mailbox Money Show.
Outro: You’ve been listening to the Mailbox Money Podcast.
For more free resources, articles, and videos, go to bronsonequity.com. There you can download your copy of the Special Report, the Single Best Investment Strategy During and After a Pandemic.
None of the information shared here is an offer to buy a specific investment and this is for educational purposes only.
Consult your financial, legal, and tax professionals, and use your own common sense before making any investment decisions.
Thanks for joining us and be sure to tune in next time for more Mailbox Money.
