On this episode, Kasey delivers a Mastermind on the significance of setting goals for financial health and overall life balance before diving into wealth building strategies. He highlights the need to have a compelling "big why" behind one's pursuit of wealth rather than solely focusing on money itself. Kasey discusses various strategies for real estate investment, including buying multiple homes with financing, flipping properties, and investing in land. He explains the advantages and disadvantages of each approach, emphasizing the importance of not working for the same dollar twice. Kasey also highlights the tax benefits of investing in residential multifamily and commercial real estate. Kasey shares various ways to save on taxes, emphasizing the importance of maximizing profitability in business. He explains the use of the Augusta Rule, which allows renting personal property for tax-free income, and also highlights paying children a tax-free salary and utilizing cost segregation for rental properties as effective strategies.
On this episode from the June Land Broker Mastermind, Kasey Mock breaks down data on the real estate market, stating that there are too many Realtors for the current demand but believes that there is still enough opportunity for anyone to make a living or even earn a million dollars. He compares navigating a shifted market to how American buffaloes charge through storms instead of running away, emphasizing that leaning into challenges leads to faster success. Kasey stresses knowing one's numbers and viewing business as a math equation in order to adapt successfully during market shifts. He discusses agent categories based on performance levels and explains that churn during previous recessions primarily occurred in the middle tier rather than at the top or bottom levels.
Kasey discusses how the market has been impacted by various factors such as political circumstances, COVID-19, and low interest rates that have prevented necessary corrections from happening. He explains why it is crucial to understand market cycles and know your numbers to avoid making emotional decisions based on comparisons with neighbors or past trends. Being a local trusted advisor is still essential as people prefer doing business with someone they trust rather than going digital or remote. Kasey dives into how investment-grade properties, especially ranch land, are currently in high demand due to investors seeking diversification and wealth protection amidst anticipated economic changes.
Kasey emphasizes that it's necessary for real estate professionals to focus on managing their math equation (offense) rather than just riding the wave of favorable market conditions because eventually there will be a downturn (defense).
Kasey Mock continues his conversation with Abe Shreeve about leadership. Abe discusses the value of investing in people and allowing them to make mistakes in order to learn and grow. He advises business owners to avoid micromanaging their employees and instead empower them to make decisions. They share insights on leadership development, including creating systems for reporting progress and providing coaching support. They also break down hiring strategies, categorizing talent into unproven, emerging, and proven categories, with a preference for emerging talent as they have potential for growth without demanding high salaries like proven talent does.
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On this episode, Kasey and Abe discusses the loneliness that comes with business ownership and leadership, highlighting how even as a business grows, leaders can feel isolated. Abe suggests being vulnerable within your team and having two-way accountability to combat this loneliness. Abe shares an example of implementing a communication model called "The Scales of Awesome" with his comanpy's president, Charlotte, to improve their working relationship. Additionally, he mentions the value of taking leadership teams to conferences for growth and development.