80% Mindset + 20% Skillset with Martin Perdomo

Martin Perdomo, "The Elite Strategist", is a real estate Investor since 2007. He is also the Host of Latinos in Real Estate Investing Podcast and the RealEstate Investors meet-up in Northeastern PA. Martin Teaches that success in Real Estate is 80% Mindset 20% Skillset which equals 100% success; if you work on your mindset first, success will inevitably follow.

In this episode, Martin shares how you can achieve the 80/20 formula of 80% mindset and 20% skill set. His real-life experiences running his real estate business strongly depict that formula. He also talks about overcoming fear and negativity to get started and continue your real estate business journey amidst challenging times.

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What you'll learn in just 17 minutes from today's episode:

Find out the four things you need to be doing in your real estate business to make progress
Learn about the mindset strategies you can do for your real estate business to get you started and keep you going
Learn about tips on how you can build a strong mindset of a true real estate entrepreneur, so you overcome challenges as you go about your entrepreneurial journey

Resources/Links:

Website: https://stroudsburgrei.com/

Topics Covered:

01:26 - The two different strategies Martin is focused on in his real estate investing
02:11 - How Martin realized the 80/20 formula in running his real estate business
03:58 - What you need to have to 'kill it' in the real estate business
05:22 - The biggest challenge for most people in getting started at anything
06:08 - The four things in real estate you need to be doing
08:08 - Taking a look at the different mindsets between the poor and rich people
10:17 - How you can remove negativity in your system
11:17 - What he highly recommends to overcome negativity
11:57 - How do you put yourself around higher thinking people?
13:30 - How he started building a mindset of a true entrepreneur
14:00 - What does mindset strategies have to do with real estate business
16:08 - What stories are you tellingng yourself?
16:17 - Lessons you can learn from Martin's real-life experience of his first flip property

Key Takeaways:

"I believe in modeling excellence; I believe in modeling successful people. I needed something to model on because you can't scale doing it all yourself." - Martin Perdomo

"Here's the top of the funnel, which is what I call the top of the funnel, the bottom of the funnel, which is, what are your lead indicators and your lag indicators in your business? Once you understand that, you know where to put your time." - Martin Perdomo

"This is most people's biggest challenge in winning and succeeding is the fear of the unknown." - Martin Perdomo

"You need to be doing these four things. And those things are putting offers, closing on deals, executing on the deals that you close, executing on your business plan, and raising capital. If you're doing those four things, as an investor, you're going to make progress." - Martin Perdomo

"The first thing I tell people is, look at your circle. Who is in your circle? Who are you talking to? Who are you listening to? What are you watching? And who is around you? Who are you intentionally being around? Are you around people that want to talk about other people and gossip and all that stuff? Or are you on other people that want to talk about ideas and ways to improve yourself?" - Martin Perdomo

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