Jimmy Murray and the Power of Visualization
Release Date: 03/09/2020
Troy R. Underwood is an industry disruptor. Part technologist, part economist, and all innovator, he revolutionized the motor vehicle industry with the nation’s first electronic title system for financial institutions, which was later sold for $106 million. His healthcare venture, benefitsCONNECT, innovated healthcare benefits administration and resulted in a highly successful acquisition. His new book is How to Launch Your Side Hustle: Start and Scale a Business with Minimal Capital. Learn more at . Podcast Highlights Who is Troy Underwood? Troy considers himself a necessity...info_outline Be Your Own Banker and Grow More Wealth with Mark Willis
Mark Willis, is a CERTIFIED FINANCIAL PLANNER™, a #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with sophisticated, tax-efficient financial solutions. Mark Willis specializes in building custom-tailored financial strategies that are unknown to typical stock-jockeys, attorneys, or other financial gurus. As co-host of the Not Your Average Financial Podcast, he shares some of his strategies...info_outline Contact Marketing Secrets: How to Get a Meeting With Anyone
Stu Heinecke is the Hall of Fame “Father of Contact Marketing" and Founder/President of the Contact Marketing Agency and Cartoonlink, which helps sales teams break through using contact marketing solutions to produce critical contact with accounts and prospects. He is a longstanding senior cartoonist for the Wall Street Journal and the bestselling author of How to Get a Meeting with Anyone: The Untapped Selling Power of Contact Marketing and the new book Get the Meeting!: An Illustrative Contact Marketing Playbook. He hosts Contact Marketing Radio and the How to Get a Meeting With...info_outline Creating Passive Income with Chris Miles
As founder of Money Ripples, host of The Chris Miles Money Show, and co-author of the book Entrepreneur on Fire, Chris Miles is a leading authority on quickly creating wealth by increasing monthly cash flow and creating passive income. He has shown hundreds of thousands internationally how to free up or generate tens of thousands of dollars each year! Chris has been featured in US News, CNNMoney, and Bankrate.com and has a reputation for getting his clients fast, proven results. Many of his clients have the option to retire in less than 5-10 years, and Chris himself was able to retire...info_outline Conquering Corona With Kyle Stanley
Kyle Stanley is the host of the Fearless Flipping podcast where he educates new hungry real estate investors about best practices for getting started. We flip the roles into today’s episode with J being interviewed for Kyle’s podcast. Find out how J is conquering the coronavirus and adjusting his short term rental business to be even more successful than before. Podcast Highlights How did you get to this point and what brought you into the short term rental business? The keyword for J is cash flow, everything he’s done in terms of business is around generating an income...info_outline Protecting Your Assets In A Changing Marketplace
Let me introduce you to Scott Smith, a new breed of real estate attorney with a great sense of humor and a gift for simplifying the complex. His Austin startup, Royal Legal Solutions, has a different take on protecting your assets including real estate investments and already serves thousands of clients across all 50 states. As a former litigation attorney, Scott has a deep understanding of how lawsuits really work. More importantly, he is a real estate investor himself, with property in 10 states. Now he’s sharing his information with the world and is committed to helping other real estate...info_outline Public Speaking Tips and Strategies with Jacqueline Nagle
With a diverse career crossing professional services, mining services, civil construction, manufacturing, industrial relations Jacqueline has used public speaking-centric strategies extensively to launch, pivot and manage both growth and crisis across all of those organizations.info_outline What To Do When The AirBnB Business Changes
Kyle Stanley is the host of the Fearless Flipping podcast where he educates new hungry real estate investors about best practices for getting started. Kyle is also a master with AirBnB and believes it's the best form of almost-completely-passive income in today's economy. Podcast Highlights Who is Kyle Stanley? Kyle doesn’t like the term “serial entrepreneur”, he prefers the idea of FOCUS (focus on one course until success). Kyle had to make a lot of adjustments over his career based on his skills and what he enjoyed. Kyle started out as a sports anchor in...info_outline This Is Your Defining Moment with Chad Peterson
Chad Peterson is an expert business broker and the founder of Peterson Acquisitions, an award-winning M&A firm. Chad’s firm handles transactions in the $1 million to $25 million range, with some deals exceeding $25 million. He works with companies all over the United States and has completed international deals as well. Peterson Acquisitions was recently named by one publication as the #1 ranked business broker in the United States. What sets Chad Peterson apart from all other business brokers is his aggressive style, work ethic and tenacity that are rooted in his humble...info_outline GoodEgg Investments Founders Talk Real Estate Syndications
Annie Dickerson and Julie Lam are the co-founders and managing partners of Goodegg Investments, a premier real estate investing company that helps people learn about and invest in They are both moms (Annie has 2 kids and Julie has 3) and are passionate about helping other families build passive income so they can spend more time with the people they love, doing the things they love, and living a life by design. Podcast Highlights Who is Annie Dickerson and Julie Lam? Annie started as an elementary school teacher and after setting out to buy her first...info_outline
How do you house hack your way to financial freedom with hardly any money down? How do you build a best-in-class property management company? What is the best day to do a home inspection? What does it mean to be #rentready? Jimmy Murray has all the answers and he is ready to share them with your podcast listeners today.
Over the past ten years, Jimmy’s multifamily real estate investments have blossomed into a successful property management company, Lyon Property Management Group. An investor himself, Jimmy intimately understands the needs of an investor landlord. And that’s why Lyon Property Management is tailored to the multifamily investor.
Jimmy is also an investor educator along with Lyon Property Group co-founder Frank Patalano. Jimmy and Frank host a podcast called The Cashflow Kings where they have been known to pass out free golden nuggets of real estate wisdom.
- Who is Jimmy Murray?
Jimmy Murray was always a thoughtful kid but he also had an entrepreneurial tilt. Real estate didn’t come along in Jimmy’s life until 8th grade when he wrote a letter to himself where he imagined what real estate and stocks he owned by the time he was finished high school. Jimmy tends to over analyze everything, which fits perfectly with his INTJ Myers-Briggs result.
- Acorn Theory
Jimmy Murray recently learned about Acorn Theory, where we all start as a small acorn with a guide that helps us grow into a massive oak tree. Sometimes it takes longer to accomplish that, but your goal should always be to realize your oak tree potential. For Jimmy, he didn’t know what the path was that he would take, but he knew that Real Estate was going to be the shape of things.
It doesn’t matter where you start, it matters where you finish. Jimmy’s degree which helped him land a job at a well respected financial firm came from Ohio State University, but he started off in a local community college. His original strategy was to get a job on Wall Street, make a pile of money, and then invest in real estate but it didn’t work out that way. Instead, he found himself failing the CFA exam and being forced to decide whether to invest more time and money in passing the test, or just jumping into real estate and buying his first multifamily property.
Small, daily habits are the foundation for long term success. Progress happens a little bit each day, your goal shouldn’t be to get there immediately. Failures are the stepping stones on your way to success. Sometimes your closest mentors will tell you not to pursue your dream goals, but if you believe in it enough you should be willing to chase what you want.
- Is there anything you wanted someone to say to you when you were starting off?
Not everyone is going to believe in your vision along the way, but as long as you do, no one else has to. Jimmy wouldn’t change the way things played out when he decided to get into real estate.
- Why did you go into property management?
When Jimmy Murray bought his first property, he also started wholesaling with the belief that wholesaling would be the way he was going to escape his cubicle. Despite being an introvert Jimmy had managed to market well and generate some interest but he didn’t really know what he was doing. He realized that the best source of his deals was a list of high equity leads so he went back to the well. After doing another deal, Jimmy realized that managing the property and tenants was something he was good at so he doubled down on that.
He also noticed the net income from managing properties is similar to the amount that real estate investors make per door, but it comes without the same level of risk.
Beginning in 2015, Jimmy started focusing on growing Lyon Property Management and found that there were a number of things that you can add to the business as it grows to create additional sources of revenue. This is an idea that many entrepreneurs and investors don’t realize and if they understood it, they would be able to explode their businesses.
If you’re an investor, it’s really important to find a property manager who shares a similar investment philosophy as you. When screening an investor, Jimmy asks them about their approach and mission statement first.
Jimmy wouldn’t have been able to predict how his life would have turned out but he wouldn’t change anything about the journey he’s been on either.
- Jimmy’s Takeaway
The power of visualization is huge. Create an alter ego for who you want to be, really think about who you want to become and make a name for it. That will really make your visualization much more powerful. You’re not always going to bat a 1000, just get out there and take constant action. If you fail, those are the best learning opportunities.