Episode #205 Build a Business That Gives You Your Life Back with Kent Clothier

On this segment of HyperFast Wealth, host Dan Lesniak interviews Kent Clothier, a man who built a billion-dollar grocery empire only to lose it all and start from scratch in real estate. Now, he has a wholesaling business in multiple real estate markets and is teaching others how to do the same, while focusing on work-life balance. 

 

Episode Highlights: 

  • Kent went into business with his father at a very young age, buying and selling truckloads of groceries.
  • By the time Kent was 23-years-old, he was running a $50M business before it was bought out.
  • After getting into a disagreement with his business partner at 30-years-old, Kent lost everything in only 22 months.
  • Kent learned all about wholesaling, discovering how to flip houses like a pro to create his own business.
  • Now, Kent runs a massive real estate investment firm and teaches others how to create their own business.
  • Though he lives in La Jolla, Real Estate Worldwide’s operation covers most of the southern half of the country.
  • REI Nation, Kent’s turnkey business, helps those with resources deploy those resources in the real estate game.
  • By the time REI Nation flips a house, the house has been completely renovated and has tenants.
  • With his wholesale operation, Kent looks for markets with high demand and great deals.
  • Traditional real estate investors start with the house, whereas Kent’s companies start with the buyer.
  • Customers drive any business, so starting with the customer in mind will make your business more efficient.
  • By making sure that the demand exists before buying a property, Kent ensures that he has an exit strategy.
  • Where big retailers go, city and residential growth will follow because they put themselves in the position to win.
  • The success that came early in life for Kent had destroyed his personal life completely.
  • Kent knew that scaling the second time around would allow him to spend as much time as possible with his family.
  • Most investors make the mistake of putting a higher value on their money than they put on their time.
  • You need to create systems, businesses, and processes to get more out of your time.
  • If you feel that you do not have enough time to devote to your family, recognize that you created that problem.
  • Kent understands exactly how to get what he wants as fast as possible and maximize the time that he has.
  • Inevitably, it’s going to take a little pain and sacrifice to get to where you want to be.
  • One of the biggest challenges that Kent has faced while scaling his business has been expanding too quickly into new markets.
  • It’s vital to stay out in front of the regular challenges that come with growing a business.
  • When coaching others, it’s important to master those skills yourself and understand that it’s all about your client’s mindset.
  • Drive, ambition, and heart will beat knowledge and talent any day.
  • The most important steps in the process are to start, get going, and keep going until you get it done.
  • Calculate how many days you have left on this planet and start prioritizing that time.

 

3 Key Points:

  1. By the time he was 30 years-old, Kent was leading a billion-dollar grocery business, and then lost everything that he had built.
  2. Kent knows exactly what his customers want, so he starts with the buyers in mind, while most real estate investors start with the house in mind.
  3. You have to prioritize your freedom over the pain that it takes to get there. We don’t have to focus on the now-money.

 

Tweetable Quotes:

  • “I’m the product of one of those late-night infomercials that we’ve all seen…Quite frankly it changed my life.” – Kent Clothier
  • “Reverse-wholesaling is exactly how we built the grocery industry to what we did. You play a game that nobody else is playing.” – Kent Clothier
  • “I know that I’m in the best position to win and therefore it makes me smarter than my competition.” – Kent Clothier
  • “I became extremely dedicated to firing myself as often as I could…and my motivation was time.” – Kent Clothier
  • “When you are on your deathbed, the last thing you are going to be wishing you had more of is money…Time is your only currency.” – Kent Clothier

 

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