KSS 39 | Managing Masterminds

 

Masterminds are a huge deal. When you join a mastermind group, you can meet peers where you’re able to help each other solve problems and develop yourselves together through input and advice from each other. Tom Olson, the Owner/President of The Olson Group Network, believes that the real truest mastermind comes from the book Think and Grow Rich, and that is getting yourself in a small group. Starting at the age of nineteen, Tom swooped on his first property and got into renovations and property services and masterminds. In this episode, dives into the importance of joining masterminds and talks about how he’s managing their Good Success Mastermind and the things they’re doing for he members. He also touches on the value contractor, the BRRRR method, and proper leadership.

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Managing Successful Masterminds with Tom Olson

Thank you for sharing with a friend at your real estate investment meetups and everything else that you’re involved in. I do appreciate it. If you do enjoy the show, go ahead and give me a nice rating on iTunes or whatever format that you’re utilizing. A couple of announcements before we get rolling here. We’ve got a class that we’re starting here in Orlando and going to be expanding throughout Florida and it’s a deal analysis workshops. It’s a much different setting than someone just in the front of the room like myself and teaching and instructing. This one’s going to be a workshop and we’re going to look at live assets that are available for sale. We’ll help you walk through all of those and we’re going to put you to work on there. There’s no better way of learning real estate or learning real estate notes through direct application and understanding what that due diligence process is. I’ll be there with the team.

I’m doing that in conjunction with Paperstac. If you’re not looking at Paperstac assets, take a look. It’s www.Paperstac.com for available note inventory. We’ll be utilizing that platform at the training here in Orlando and it will be in a nice setting. Go to the website for more information, www.KevinShortle.com. If you’re not on my mailing list, join that as well. If you’re on my mailing list, I’m going to go ahead and send out more information about that deal analysis workshops that we’re starting to roll out. Don’t forget also coming up in September, I’ll be cohosting the Noteworthy event out in Arizona. You can go to the website for more information.

I’m happy to have Tom Olson on and although Tom and I haven’t met before, I started hearing his name more and more and he happens to be up in Indiana where a lot of us have assets in the note world. We’re always looking for good, reliable and experienced people. The résumé that Tom Olson has is very impressive. Starting at the age of nineteen and busting his first property and getting into renovations and property services and getting into masterminds, which I’m going to have lots of questions about and how he runs those and works with investors. You can tell if you do Google search, if you go on LinkedIn or go on one of his several websites, you’ll see that this is a person that cares about the investors that he works with, provides a great service and knows how to lead a good quality team. If you’re in the Indiana area and you’re not familiar with Tom, you need to get familiar with him. He’s also an author. He’s got a book coming out. I’m sure we’ll know about that. A national instructor and leads a mastermind. Tom, welcome.

Thanks for having me on, Kevin. I appreciate your time. I love being able to connect with other people’s audiences, whatever I can do to help. With you being in the note space, I’ve talked to a lot of note investors over the years. Indiana is in that “Rust Belt” that they call us, Kentucky, Ohio. There are a lot of notes that are a little lower hanging and a little cheaper for people to get into. If somebody’s just getting into note investing. Normally one of their first couple of notes is in this Rust Belt somewhere. I love talking to you guys. I always want to be a resource to be able to help in any way I possibly can.

We appreciate that in the note business. As you know, we go to where the deals are so it doesn’t matter where you live, but there’s no question that the Midwest and the Southeast are two of the biggest markets for us. One of the things that always happen is when people buy notes long distance like that specifically nonperforming notes, they end up with a lot of real estates. It’s often sometimes hard to manage taking over the property, working on the property, hiring the right people, paying them the right way. It’s nice to have resources like you that do that. In fact, that’s where you started in that part of real estate, the renovations and management.

I started in construction when I was twelve-years-old. I used to work for my eighth-grade history teacher and that’s where everything led me into real estate from where I am. I read Rich Dad Poor Dad when I was nineteen or twenty-years-old and that started everything. 2006 was when I had to force myself into full-time entrepreneurship, building a team, building a business. Between 2009 and 2014, we wholesaled over about 1,500 homes. We have Olson Group Network, which builds rental portfolios for investors. We have Olson Construction Management Services that rehabs rentals for investors, and Olson Property Services which manages or stewards for investors.

Good Success is the brand in which we have the Community Go-Giver every single year. I think if you’re making notes or investing in real estate, but if you’re not focusing on what other intangibles are out there. The tangibles are fine, the greater the money fine. To me, there’s something that’s happening way more important when you’re doing a deal, and that’s all the intangibles. That’s where the Community Go-Giver, which we had, talks about how do you use real estate to have a positive impact on your community, not just do it to make a bunch of money. The Good Success Mastermind, we meet four times a year for high-level entrepreneurs, not just real estate, but mostly real estate. It’s more for purpose-driven and to make sure that you stay on track and you put a team around you that you trust is not just going to tell you what everybody says about how to make more money. Also, how to make sure that you’re fulfilling your purpose in life, living a fulfilled life and leaving the right legacy, which to me is not just money.

A lot of investors I’ve met who’ve made it to higher levels, they have that same tendency. In fact, I interviewed Kim Tucker, she’s down in Kansas City and owns a big club down there and has for many years. She does the same thing, a charitable event every year that she’s coming out with. I love it about that because we are in that business that does that where you’re not only helping investors but you’re helping people stay in homes. You’re helping people with the ability to purchase homes. The family’s important to us. I believe it’s great to be able to help families like that get into nice, good quality homes and also help investors along the way. I know a lot of note investors that are reading, we do the same thing. We feel the banks don’t have that motivation to help people. A lot of times they’re just a number and when we come in and buy a note like a property, you have a direct impact on someone’s life or a family’s life. I think it’s a great thing you’re doing there. Moving up through masterminds, because masterminds are a big deal. When you first started out, you read some books and you started going through that way. You learn though hands on the business by working in the construction. Did you also start going to investment classes and things like that or what got you to the point where you knew that this was going to be a big scalable business?

I’m one of these types of people that believe everything in your life happens for a reason. I think that there are a lot of people out there that they get shiny object syndrome. They go from being an engineer to this to being a real estate investor, and then, “I don’t want to be a real estate investor. I want to be a note investor. I don’t want to be a note investor. I want to do multifamily.” They don’t give themselves enough time down the path to be able to see what the deal after the deal is. To me, my life is a compilation of the deal after the deal. At twelve-years-old, I started out being a contractor, started my own side business when I was nineteen-years-old. With my boss, I worked hard to make sure that any lead that ever came in or any homeowner that we worked for or any contractor that we worked for, I never did work for any of those people. There’s a little bit way too much of that infighting, trying to work for somebody just for what you can get out of them and then leave them and go take all their customers. It’s bad in society. I worked for him for thirteen years and then I had a side business going on the whole time. I pretty much learned the business from the inside out.

Most people undervalue contractors and I think that a contractor can be your absolute best friend in the entire world or they can be your worst enemy. I even wrote a book that’s on Amazon called Investors Vs. Contractors. As investors, we think sometimes the contractor is just a spoke in our wheel but they can be the hub if you let them be. In 2006, my rug got pulled out right off from underneath me. My wife and I had moved to a nice home in an A-plus neighborhood. I had a kid and all of a sudden I go from making six figures to $20,000 overnight. For most construction people, the real crash happened in 2006, not 2008. I found that to be the case for me. I started calling people and saying, “I’ve got to find work. What can you do? I’ve got to put food on the table.”

KSS 39 | Managing Masterminds

Managing Masterminds: A lot of people get the shiny object syndrome. They don’t give themselves enough time down the path to be able to see what the deal after the deal is.

 

Within a year, I was partners with a guy that was doing construction for a fix and flipper. A year after that, my partner decided to leave town and I was like, “What do I do now? I just went through this a year ago. I’ve got to figure out what to do.” I started calling those same people back and ask them if they wanted to work with me instead of working with this other guy and me as a partner. One thing led to another, I did about 100 rehabs for three investors over a three-year period of time and learned how to find a house properly, how to get at the right price. I knew how much it needed to rehab it. I would actually work with the utilities turning it on. I’d work with the realtor at the end to sell the property.

I was basically the investor for the investor. I did all that so I could get to do the contracting work. As an investor, most people, I tell them that story and they laugh at me because they’re like, “You were offering so much value.” I didn’t even realize it at the time. To me, that’s what I focused on. I’m always focusing on what value am I going to bring to you. I believe that the value that you bring is a difference and how much you offer in value versus how much they pay you. If they’re paying you $100,000 but you’re worth $500,000, your true value is $400,000. If they’re paying you $100,000 and you’re only worth $50,000, then you’re actually a negative. You’re a suck on their life and on their business. That’s pretty much how I learned how to do active turnkey, which is the BRRRR method but working with a turnkey provider.

I partnered up with a gentleman in 2009. I learned to wholesale. We wholesaled 500 or 600 homes without a website, without a buyer’s list, without any of the stuff that everybody tells you that you have to do. We used bandit signs, we put out 50 bandit signs at every single property and we sold a ton of properties throughout Indiana for a long time without ever having anything. We used to bid on every single HUD property in the entire state of Indiana, Illinois, Michigan and Ohio. Every single day, we were putting over 5,000 offers a week and I still have realtors that come up to me and they’re like, “You are that guy.” They didn’t like us too much because we were getting their houses under contract very fast and moving a lot. At the end of the day, we were of value to the community because we are getting those properties moved a lot quicker than HUD can move them.

It’s funny you say that because I specialize in HUD properties myself here in Orlando. We bought about 60 homes a year and had three renovation crews. We had a target area that we invested in and we use the same thing. We use bandit signs and the whole thing. It worked very well for a long time. You’re right, that area that we invested in, it was a target. Maybe it was a 3×9-mile area and we focused just in there and that whole neighborhood started turning around. It’s a great thing for the overall community. We are providing good solid housing for people there. If you have investments up in Northwest Indiana and you’re looking for somebody who knows the business and you need to get work done on that. Please make sure you look up Tom, go to his various websites GoodSuccess.com and OlsonPropertyServices.com. What made you get into training, Tom? On top of that, I’m curious about your mastermind and how you run it. I have good thoughts on this because I’ve seen people mastermind became a buzzword and I’m seeing people do a lot of them, but in my mind, they’re doing group coaching. There’s a big difference between mastermind and group coaching. I’m curious how you grew into that and how you run your mastermind up there.

I believe the real truest mastermind comes from the book Think and Grow Rich. That is getting yourself in a small group. When I say small group, between 15 and 30. I think that’s a good size and enough people where you’re not going to feel too uncomfortable getting a little vulnerable. It’s enough where it’s going to give you a little bit of spark and enough gumption. If you don’t do what you say you’re going to do, there are enough people holding you accountable. The way we run our mastermind is every single time, every single person that comes, we’ve already split up into two groups because we were getting to the point where we have 40 plus at an event and that was too much. What we do is we split them up. We have about twenty in a group. My goal is to get to about 120 total and have four groups with each group having about 30 in there, running two of them simultaneously. Everybody gets together in the middle day and does a little bit more of a keynote and then do some fun stuff. We always could do something fun in the middle day. The real true mastermind for the first day, Monday, Tuesday and Thursday, Friday for us is everybody that comes gets to get in the front of the room and they say the same six things every single time.

The real truest mastermind is getting yourself in a small group. Click To Tweet

They may see something a little different but they say who they are, what they do, where they do it from. They say what they’re good at. I think in order to give somebody advice in the back, you need to know a little bit about them, why they do what they do because our focus is very purpose driven. For me, I had two big dreams in my life. One is to give away $1 billion and the other one is to flip the city of Gary, Indiana. I stood up in front of a mastermind before where nobody even thought about what my purpose was. They just wanted me to make more money. If my real purpose is to focus on Gary, Indiana and to give away money, I’ve got to put everything, every effort into my life into those two big goals. I need to know what that is and I always want somebody to teach me something.

I always give a little bit of time, five or ten minutes in their little time to share. Maybe it’s a book, maybe it’s a process, maybe it’s a technology piece, maybe it’s something during their business from city hall meetings that we do. Shout outs that we actually save for everybody and then give them at the end of the year to all of our employees. Little shares or something like that is good, and then what is their biggest challenge? Every single person and this is a serious thing. I’m very serious about making sure that people show up to participate. Your focus on that person and when you leave at the end of the day you are worn out because you’ve tried to help so many people and it involved your mind trust and your genius into their business. Everybody gets 30 minutes in total, but the most important part is that vulnerability part. That one part where like, “This is my biggest challenge.” If I could solve this one problem in my business, it would tip over a bunch of dominoes in my business and it would make everything a whole lot better.

That’s what we’re looking for every single time. Sometimes it gets personal. Sometimes we turn into a little bit of a help group or a little bit of an AA group, but a lot of times its business and a lot of times it’s helping people. It’s that trust that you have in that group of people saying, “This is what I need help with,” and then everybody pitching in and helping. We give time to network and all that afterward as well. To me, that bet piece where you’re vulnerable, it’s encouraging to everybody to know. You think this person has it all figured out, but he’s got problems too. Not only that, you probably have the same problem but you’re not willing to admit it. You’re writing notes down and I’ve got people that will have pages and pages worth of notes for two days. In the middle, we always do something fun together. It’s great to get out on a boat or go to a ballgame or something with the group. Both groups get together on that middle day. Our next event is August 5 to 9 in Merrillville, Indiana, right outside Chicago. We do it two times in my backyard.

We’ve traveled to Dallas, we’ve done Miami a couple of times and we traveled to other places for the other four times. We also do monthly accountability calls as well. These accountability calls are very focused and very into what you said you’re going to do and what you said your most important things are to get done this quarter. If you’re not getting them done, you need to tell us why you’re not getting them done. That accountability piece is huge. I’ve created this workbook called the 30 Days To Good Success, which asks a lot of heart-wrenching questions both personal and business. Max Keller, somebody who helps me with the mastermind has also done the same thing with a net profit book. I think a lot of times in real estate, we’re focused so much on the revenue. We’re focused so much on all the numbers, but we don’t focus on that net profit, which is important in business. I can tell you, the year we sold 147 homes, we made more money than when we sold 301 homes. You think that that’s not even possible, but I’m going to tell you it’s possible. To me, I saw that as being something in our group that started to be content. I’m like, “We’ve got to stop that right now.” We are very focused on trying to make a more net profit but making sure you’re doing it on purpose for a purpose.

Congratulations to your people who put together your marketing pieces and such because I had a feeling that you felt about the same way that I did with that and went right to Think and Grow Rich. I believe in that definition as well when it comes to mastermind. As you know, part of his principles is definiteness of purpose, which it sounds like you have. Having that focus with the goal in mind on that. Somehow I knew you were going to have that same mindset and it comes through in your marketing by the way, so good on that. I see other opportunities in this too for people with Indiana being a big play on the note spaces. We talk in terms of multiple exit strategies. A lot of the people don’t do rental properties because they’d rather sell it with seller financing, but certainly, there’s a play within that. I imagine the network of people that you could even refer to some of our people if they’re in need of someone up in that area is rather extensive. Do you have a big following the same way in surrounding states? Do you have a lot of your people come into that network?

KSS 39 | Managing Masterminds

Think and Grow Rich

Most of the people in my mastermind are actually not local. Most of my mastermind is from around the country. I have people in Cole County right around the corner from you. I’ve got somebody right next to Orlando, Dallas, Miami, California, Charlotte. They’re from all over the place. As far as me, I work with a lot of note investors already. I’m good friends with Eddie Speed and good friends with Scott Carson. A lot of those people will contact me before they’re even buying and at least try to get a quick opinion about certain things. Sometimes I can respond. I’m a very busy person, so sometimes I can’t respond. What I do know is I do buy a lot of those on the back end when they do become REO from people. Some people don’t even go to a realtor. My wife is a realtor, so she can list them if you want to up here, so I can give you my name and number, or you can find me on any social media platform at @TheTomOlson. We can also help service if you need keys changed or if you need stuff like that. We are always here to try to help. For me, it’s mostly Lake and Porter County. Those are the two counties that I’m interested in. LaPorte County is right next to Porter and I am interested in some of those Michigan City. I have a vision to flip the entire city of Gary, Indiana, which is the one place in the world that nobody else wants to buy, so I’m the buyer.

I’ve referred about two or three people over to you because I said, “These are in Gary. You need to talk with this guy because he’s on a mission.” I saw that where you’re saying, “We’re going to help Gary, Indiana turn around.” That’s a big undertaking to do that, but I think bold statements are what drives people to things there. What changes have you already seen in Gary?

It’s funny because when you’re in the middle of it and everybody else around you doesn’t see it. You still hear all the naysayers, you still hear all of that going on. Within the last few months, we have had in Lake County. These are not all in Gary, but over half of these are in Gary because of steel mills that are doing operations and building expansions and home steel mill moving from Illinois to Indiana. Why in the world do you live in Illinois? I have no idea. There are actually signs on 80/94 that are in Indiana and it says, “Are you Illinois jet?” That’s how many people are moving out of Illinois to Indiana. There are still nine million people in population right around our corner.

My office is in Gary, Indiana and I’m closer to downtown Chicago than either airport. That’s what most people don’t understand. The same jobs that are out in Schaumburg that people are going into downtown. You could live here for one-third or one-fourth of the price. The taxes are probably one-third or one-fourth of the price. Gary, Indiana is a focus for me and I’m very passionate about it. In Gary, Indiana, we’ve seen probably 6,800 temporary jobs and 3,800 to 4,800 permanent jobs had been announced. Amazon, for instance, came in and put a distribution center overnight. Nobody even knew it was happening and there were 400 jobs almost overnight. That’s right in Gary, Indiana.

The airport expansion happened and there is already a ton of people building at the airport. The city of Gary has been cording Amazon and Amazon still in the play for Chicago land because of the New York play kicking them out. I think they’re going to end up somewhere in the Midwest because they’re realizing they’re a logistics company. They’re not an online sales porter. They’ve got to figure out how to move the product everywhere. Giving them a play at the actual airport is a huge opportunity. Gary, in the end, should be a logistics town. I sat with Senator Eddie Melton for dinner and that is his biggest play. “We’re moving the casino.” We’re going in the first land-based casino in Gary, Indiana, right on 80/94 which they’ll break ground on that.

Read a lot of books. There’s a reason why Warren Buffett is wealthy; it’s because he reads 500 pages a day. Click To Tweet

I’m not a big casino guy. I could care less about the casino. It will create a bunch of temporary jobs to build it and it will create temporary jobs to build because they’re also going to build a large hotel and resort around it. That’ll be great, but I’m interested in moving the casino out of the port, which has been clogging up all of the traffic that could be coming in for logistics and moving. That’s where I think the direction’s heading. Amazon has changed the way we do everything. Eventually, all the malls in the A-class neighborhoods are going to be empty in twenty years. They’ve got to figure out what to do with these malls. Logistics companies don’t want to be in those areas. They’re too hard to get trucks in and out of. They should go to places like Gary, Indiana.

For me, I am just trying to get the word out. I’m trying to be the beacon. I’m trying to do the marketing for Gary itself. Meeting with the mayor, meeting with different officials however I can do to help. As far as the numbers are concerned, I can give you some amazing news about the numbers. We were trying to rent houses in Gary and I couldn’t even stand here and tell an investor you should invest in Gary with a good conscience. I never want to tell somebody else to do something that I’m not willing to do first. I’ve been slowly moving into Gary, but we have seen it go. It takes a few months to fill a vacancy. That’s not a good rental market. If we put a house on the market, we have showings that day and they’re there normally getting rented within a week or two. It’s gone from being a very abnormal market to a very normal rental market. Rents, so we’ve gone from about $675, $725 range for a three bedroom, one bath to $850, section 8 is paying $1,050.

Those same houses that a lot of your note buyers are picking up for under $10,000, those are the numbers. It’s crazy. We see retail comps even sell in the $50,000s and $60,000s, which nothing sold over $45,000 for several years. We see some retail comps in the Aetna area, which was no man’s land selling for $50,000 and $60,000. In the Tolleston area, we personally have sold three houses over $120,000. The Miller Beach area, which is nice and I have six vacation rentals up there myself, which is right on Lake Michigan. Those houses have gone from about $120,000 to $220,000. Things have started to pop in a major way, and we’re so far from the rest of the country that we still have so much room to go when it comes to appreciation. A lot of markets I think are a little bit heated, but if you look at the real affordability and how much supply and demand we have, we still have a major issue, but we’re sitting on a bunch of inventory still.

That’s an eye-opening because I do remember going back a couple of years ago, the notes that we saw, the answer was always like, “Yes, but it’s in Gary.” It’s like, “Why would we get something in Gary, it’s not going anywhere?” We still had people that did. It’s hard when you live in Florida like I do or wherever else in the country to know what’s going on in a city like that. That sounds like a great buying opportunity for everybody reading and go back and explore some of those notes. I know investors who have notes and REOs and such up there that are looking to sell all their notes, part of their notes. Gary’s back on the upswing for sure and that’s awesome.

I had the person from Auction.com who does their data and put together a thing for my event. He was like, “I had no idea until I looked at these numbers, but this is a place I would invest here way before I’d invest in Detroit or way before I’d invest in some of these other areas that people are touting. Look at the numbers.” The average list price has gone up to $19,000. The average list price before that was $20,000, that’s a big deal.

KSS 39 | Managing Masterminds

Managing Masterminds: Amazon has changed the way we do everything. Eventually, all the malls in the A-class neighborhoods are going to be empty in twenty years.

 

You said a lot of that has to do with the leadership that is in that community. You said you had lunch with who was that? The governor?

I’ve had dinner with the incumbent mayor, which won’t be the mayor until January, and with the state senator who lives right here in Gary, Eddie Melton. We’re trying to help veterans with their instability in housing. We have a lot of veterans in this area. That’s something else that we’re working on. We’re probably working on 30 or 40 homes in Gary ourselves. We’re flipping, I’m doing vacation rental, I’m doing rental and we’re doing turnkeys all in Gary, Indiana.

I saw something on LinkedIn that you had put out or someone put out there about leadership and I was going in that direction there. I’ve got people who are at that point also reading that they’ve built a pretty big business themselves, but at some point in time, you can’t do it all. You’ve put together an outstanding team on that. What are some tips and guidelines for setting up a proper leadership and guidance for somebody who’s looking to expand upon what they’re doing?

Read a lot of books. That’s the first tip I’ll give you. There’s a reason why Warren Buffett is wealthy, he reads 500 pages a day.

His buddy Bill Gates does the same thing.

A lot of times, what's holding people back from their purpose is they want short-term gain for long-term sacrifice. Click To Tweet

I cannot stress to you how important, I think you will change your beliefs. You’ll change your mindset. You can change the world through the books you read and the people you meet. I make my top 50 recommendation for the year. Every single year, I try to make sure that we always hit that drum beat. My favorite book used to be The Go-Giver. I love The Go-Giver. It’s a great book. Other than the Bible, I would recommend The Go-Giver to every single person that I met, but it’s The Richest Man Who Ever Lived. It’s not an Audible, so you have actually to pick it up and read it. It’s not The Richest Man in Babylon, which a lot of people talk about. It’s The Richest Man Who Ever Lived. It talks about Solomon goes over proverbs and on some of the stuff in there. I’ll tell you, reading books and a couple of other books. I’ll give you for good leadership is going to be a book like Traction. Have you read Traction by Gino Wickman?

No, I haven’t.

That actually gives you a lot of tools and puts a structure in your business to allow your leaders to lead for you. My leadership team makes me look amazing. I am nowhere near as good as my leadership team makes me look. I have a core group of leaders. I call them asset leaders. Every company that I own, I have one person that’s my CEO or my asset leader for that company. One for Olson Group, one for Olson Construction, one for Olson Property Services. I even have one for my investment company that does lending, rentals and vacation rentals. I have one for Good Success as well. We meet every single week and it’s called a level ten meeting. That concept is out of either the Scaling Up book, which is another good book or Traction, those two are good books. The E-Myth is another good book when it comes to learning how to set up a business that works without you and grows without you. I’m always focused on this. I’m always focused on culture. If you want another tip, have a meeting with all of your employees about once or twice a month.

You have no idea how much the culture building of doing a book review together every two weeks. You get to know what people are thinking about by doing that book review. You also get to see who’s going to be the leader, who’s going to stand up, who’s going to do it. We do shoutouts every two weeks and that gives everybody in the company an opportunity for every single person to catch somebody doing something good. We spend a lot of time with HR on all the bad things people do and we put all that in their file and then when we pull their files, the only thing we have on people is bad things. We don’t want to do that. Every single good thing goes up on a board and it stays up there for a month. We have a girl writing them all down with sticky notes and it sits up there so everybody can see all the good things that everybody did in the company for the whole month.

It goes in their HR file and at the end of the year we print them out in a spreadsheet and give it to them at our Christmas party and say, “These are the good things that you’ve done this year.” This is going to stay in your permanent HR file. When we go like, there is a disciplinary issue, we can also look back and say, “This is also all the good things that people do.” Things like doing cookouts. I’m paying 30 people for two hours to go to these meetings. We do training. We do sales training, construction training or safety training. We do all those things that you think like a business owner, “That’s 30 people times two hours. How much money does it cost me?” I promise you, you are investing in your people and they’ll give it to you back in spades.

KSS 39 | Managing Masterminds

Active Turnkey: The Best Way to Buy Rentals

Good tips and good information to have for that. Speaking of books, you have one coming out. I know you’ve got several books out. What’s your book all about and when is that coming out?

This is a book I’m passionate about, Active Turnkey: The Best Way to Buy Rentals, which is the BRRRR method with somebody like me. I also have written Investors Vs. Contractors, which you can get both of those on Amazon. We came out with a net profit workbook, which Max and I have worked on that and I’m very passionate about that. I don’t think that’s on Amazon yet, but it will be. This is the one that I’m focused on. It’s going to be about 150-page workbook, which will then be into a book as well. I think the reason why most people don’t get the answers they’re looking for is because they’re asking the wrong questions. That’s all this book does is ask you 30 very thought-provoking questions. Number one, what is your purpose? If you don’t know what your purpose is, my hope is that by the end of this book, it will help you realize what your purpose is. A lot of times what you think your purpose is, isn’t really what your purpose is. It asks people hard questions like, “Are you in debt?” A lot of times what’s holding people back from their purpose is they want short-term gain for long-term sacrifice and they shouldn’t be thinking that way.

You should flip that upside down. Short-term sacrifice for long-term gain and having that long-term mindset. What are you good at? I think that God’s given us all spiritual gifts that we should focus on and we should also focus on what is our natural gifts? What are the skills that we’ve learned over the years? There are some free tests out there like the DISC profile or the 16Personalities that can help you figure out what you’re good at. What I challenge people in this book to do is to ask other people, ask three best people that you know what do they think your gifts are? What do they think that you’re good at? Doing things like that, asking the right questions helps you get to the right result. If I could help as many people figure out what their purpose is and then put them on that path to fulfill their purpose here in this life and live their life, thinking about who’s going to live their life, thanking God that I live mine. That’s what I believe that this 30-day Good Success journey will help people with.

It’s very well said. Everybody, please check out Tom Olson, OlsonPropertyServices.com. He’s also got GoodSuccess.com. I’m sure you can find them on LinkedIn, Google and everything else. If you have any business up there in Northwest Indiana, in the particular counties that he was talking about, especially it would be in your best interest to reach out to him and his group to help you out. He’s got all the good intentions and all the skill sets behind it. Tom, thank you so much for being on.

Thanks, Kevin. It was a pleasure being on.

Thank you. I look forward to putting together another episode for you next time.

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About Tom Olson

KSS 39 | Managing MastermindsTom is the Owner/President of The Olson Group Network and Good Success. Olson Group Network Builds Rental portfolios for Investors in Northwest Indiana. They also offer lending investment opportunities for Single family homes. His Companies Have Helped Investors Purchase and Rent or sell over 500 properties in the last 10 years. Tom has a Passion to help investors and business owners live life on purpose for a purpose.

He owns and facilitates the Good Success Mastermind which a community of business owners looking for a higher level of conversation. The mastermind acts as a trusted board of advisors to help members move the needle and make a more net profit than they could possibly imagine, but also hold its members accountable for the things they promise are the most important things in their life. Tom is a best selling author, a polished speaker, and his talks include “Work to Have to Give” or “Be a Conduit Not a Bucket” The 6 types of appreciation,” and What Is Good Success we are blessed to have Tom Olson in our community.