Education teaches us to control, it guides us about what is acceptable behavior in a certain environments and what isn’t. Experience, another form of education, teaches us when to exercise caution and when to be spontaneous. Regardless if it is education or experience, both provide us unique ideas and theories on success and what it means to succeed.
Today, our Special Guest, Adam Cole, talks about the importance of education and gives us insight into his story which is one that demonstrates in real-life the impact education and experience has on your level of success, on the unique insights it provides and the overall idea that education and experience can be a huge leap ahead of the crowd if used correctly.
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CONNECT WITH ADAM:
Keller Williams Realty DTC
6300 S. Syracuse Way Suite 150
Greenwood Village CO 80111
303-771-7500 (o)
720-985-4044 (c) .
Leave your thoughts and let us know what other questions you would like MJ to help with.
Education teaches us to control, it guides us about what is acceptable behavior in a certain environments and what isn’t. Experience, another form of education, teaches us when to exercise caution and when to be spontaneous. Regardless if it is education or experience, both provide us unique ideas and theories on success and what it means to succeed.
Today, our Special Guest, Adam Cole, talks about the importance of education and gives us insight into his story which is one that demonstrates in real-life the impact education and experience has on your level of success, on the unique insights it provides and the overall idea that education and experience can be a huge leap ahead of the crowd if used correctly.
LISTEN ON:
ITUNES: https://itunes.apple.com/ca/podcast/a...
Spotify: https://spoti.fi/2V1gOaO
Android: https://play.google.com/music/listen?...
Website:
http://appraisersecrets.com
CONNECT WITH ADAM:
Keller Williams Realty DTC
6300 S. Syracuse Way Suite 150
Greenwood Village CO 80111
303-771-7500 (o)
720-985-4044 (c) .
Leave your thoughts and let us know what other questions you would like MJ to help with.
Why, uh, why is education so important to me? That's your fundamental question.
Speaker 2:Yes.
Speaker 1:Education opens doors in doors that I would've never known are even remotely out here and we all will read a book or ticket class or listening to a podcast. And it's so important for us to retain that information in my why is to be the best I possibly can. I want to get out of this rat race. I want to go and play and see the world and do some amazing things and I want my family to be there. And so I need to get the best education. So I make, I make it from point a to point B as quickly as I possibly can. Uh, streamline. So I'm not doing up and down that we all do in real estate and life and everything else. I want this to be a trajectory and I want it to be as smooth and consecutive and decisive as possible. And the only way to do that is to get as much education in my opinion so that I can make the best decisions. And then those doors can start opening for me because I don't even know they exist until now.
Speaker 3:You were listening to the Reasor's secrets podcast with your host, Mark Jackson. You'll get straightforward advice for how to make a profit on every new transaction that you do, compounding your net worth and grown your wealth substantially all through real estate. Get more information@apraisersecrets.com
Speaker 2:everybody, welcome to the appraiser secrets founders or powered by investor. My name is Mark Jackson mg. I'm so excited to have a great personal friend and powerful desks. Adam call add a welcome, welcome, welcome. How are you doing? The debt.
Speaker 1:Fantastic. Looking forward to having a great conversation with you and a good podcast.
Speaker 2:Good stuff like yourself here in Colorado. We're joint just another one of those absolute positively gorgeous son Bill. Days to Sunday. You could say it's monotonous, but when we know how much we appreciate all waking up and seeing every new day, um, this is just as special as it gets. Not just today, but then again tomorrow. And we don't take it for granted. We just, we just love the basket. And we enjoy keeping it to ourselves, which I keep a Denver and the Colorado market kind of like that. The little precious secrets of not too many people wind up moving here.
Speaker 1:Sounds like you know, we're on the same page. My friends.
Speaker 2:There we go. Listen to me. I get well thank you so much for taking time out of your day to be with us, uh, to do this podcast and share with the appraisers secrets family cause this is all about ticking a valuation, first person real estate, but during, so that not only impacts our business but it impacts our lives and the topic that you're sharing today. Just dynamic of self improvement, how you've done it through education and different ways to grow individually that you're going to share with everybody. I, it couldn't be a better, especially coming into the second quarter of the year, the goals that you've set that I sat in those that they're listening to us that have been placed in. If you haven't set any goals, this is going to be a great time to do so as well. So do me a favor and give a little bit of your background and let's just jump right into it.
Speaker 1:Oh, right on. I think Sanjay, I, uh, grew up in the bay area and California. I was born in 1980 and it makes me 38 years old today. And, uh, I grew up for, had a single mom, uh, just my sister and I. We lived in a one bedroom and struggle a little bit through those adolescent years. Uh, went to high school in Grand Junction here in Colorado. Um, did great there and I went to college, did some good things, but I always worked, uh, worked my tail off. I never went on spring break, uh, never went and did any of those things. I, uh, had a sales job and I just worked away. And, um, that's, that's my foundation. I, I've worked a lot, but, uh, I get to play a lot now because of that.
Speaker 2:Cool. Tell me a little bit about the dynamics. I mean coming up in that family setting, um, you know, being work, obviously not having any measure of an entitlement mentality of there's a little bit of a focus that was I guess driven towards education. Give us the dynamic of what that was like, you know, even your formative years and then going into the rest of your higher education if you don't mind.
Speaker 1:Yeah, no problem. Um, well, growing up poor really, uh, you know, that's the bottom is that there's just nowhere to go, but you have to go up from there. And that really got me to where I am because, um, I just need, I needed more than what I grew up with. So I just keep pushing and pushing and pushing and pushing and uh, it's really done really well. Things. Um, I went to college, I was there for five years and uh, but while it took me a little bit extra time in then I was thinking kind of figure out what I, what I wanted that for my whole life. So I'm just like, your valuation approach to doing the work ahead of time gave me so much more later in life. So five years in college. But that really gave me an opportunity to really think about what I needed out of life and real estate. This was where my focus was and now it's really done really well for me.
Speaker 2:Good. Why do you think it, you know, just in terms of sharing from, for all those who listened because there's so many different walks in life. I mean, we do have that dynamic of, you know, get your education, go to college, go get a job. Um, but I think in some cases the emphasis or the why we needed education is, is overlooked in some family settings. And a lot has changed. I mean, I have five millennials from 33 to 23 and each of them has taken a different path towards getting their education. All of them earned degrees, some weighted sum with the college even before finishing high school. Well, one, not some one a went off to college at 15. Wow. Uh, two of them. So you know, to direct route, finished high school, we're afraid to college. One went to a military academy, people went to prep school first, the other one went straight off to the military wound. Wait and guide is a via Gi bill and then got his education. So let's get into that dynamic. We know it's different, but there's, there's a significant why that I think that you have that will impact everybody that's listening to that.
Speaker 1:No, we pay for education one way or another. We can either literally pay for it with money. We can pay for it with time or we can do a little bit of both. Uh, but it's just so important. It was important to me because, um, you know, it starts to open doors that you would never know are there until you start learning a little bit about something and then boom, you know, if you went into the, uh, the Gi field, I mean, that's, that's so impressive because that's going to open up so many more doors before you go into a formal education. And that's just a fantastic way of starting out your whole life. You just need to get as much as you can so that you have, uh, the best, um, uh, well rounded ability to make those smart decisions for you and your family
Speaker 2:there. You don't quit now, but for yourself. Okay. There's a specific why education was important and then it ties to the growth that you've had that I think that will be what I know it's going to be a significant impact. Everybody's listening when the component of self improvement. So we've talked a little bit about the education. Let's get into the why and then how it impacted your growth.
Speaker 1:Yeah. Uh, so why, uh, why is education so important to me? That's your fundamental question.
Speaker 2:Yes.
Speaker 1:Education opens doors and doors that I would've never known are even remotely out here. And we all, uh, we'll read a book or take a class or listen to a podcast. And it's so important for us to retain that information in my why is to be the best I possibly can. I want to get out of this rat race. I want to go and play and see the world and do some amazing things. And I want my family to be there. And so I need to get the best education. So I make, I make it from point a to point B as quickly as I possibly can of streamline. So I'm not doing the up and down that we all do in real estate and life and everything else. I want this to be a trajectory and I want it to be as smooth and consecutive and decisive as possible. And the only way to do that is to get as much education in my opinion, so that I can make the best decisions. And then those doors can start opening for me because I don't even know they exist until now.
Speaker 2:There you go. And it's really good. Cause I know there's some parallels in the education for business that both of us have. I, I take a lot of dynamics of teaching points in the game of golf and I apply that to the business for the integrity are calling a foul on yourself. Um, the relationship, the communication has to take place. Um, even in the iron man world do fastly serious. There's a certain amount. There's, there's, there's a right way to go about Jewish nutrition, you're training and even your recovery because the body has recovered that I've learned to apply to my business now. You love the outdoors, the ski and snowboarding and stuff like that and there's different things that you've actually built a parallel. Do you have a conversation about how you anticipate something when you're coming down that slope, but because you've had that exposure for your education and business that you can apply that same anticipatory dynamic from, you're still going in skiing to your business activity. Kind of share a little bit of that dynamic. I hope I was given enough room to kind of give you some leeway into one of those stories that you could tell that really made a difference of being helpful to have that education that gave group foresight a lesson that you learned that's had a great impact for it.
Speaker 1:Thanks for the, uh, the t up there, my friends, I'm trying to think about a life story here. I'll tell you that. Um, recently in January I took a a wilderness first responder course. Wow. Um, and that is totally outside of my wheelhouse. All, most of my education and self improvement has been real estate in the huge world that it is a lending and this and that. And the other thing being a better person. But uh, to take this wilderness first responder course slumming, it was 80 hours of education in nine days. Well, slam, Bam, Bam, Bam, Bam. Today. I haven't used this, uh, the skill specifically, but what I have done is I have a real first aid kit. Now I have tools that will help me help my friends when we're out in the back country and we're out by course or whatever it might be. But now I have tools that really, really going to help me help the next guy. And he helped myself. And, um, that was just a really smart thing that I was able to do for myself and thanks to a friend of mine who said, hey, you should do this because we talk, talk, talk. But until you get some implication, um, you know, get it going, then I'm so I have a a lot s lots of thank Fred for, for making me sign up and take this class and hopefully I'll be a better person. More well rounded now.
Speaker 2:There you go. You know, and to when I'm thinking about that, it's a dynamic to where you apply it back to real estate, this constant education and growth for self improvement that you've been in. I had the good fortune to come visit your home recently. You were gracious enough to hold on to my journal that I left at one of our little master mind gathering meetings and though the communication of willingness to just to care and share, hold on to that, that a journal for me that has a number, any great amount of information in it and care for just like it was your own. So I got it back. But we had a unique experience visiting the home that you had to remodel the acquired and there was, we talked about the different, where you open it up, balls and lamb being, stuff like that. There's a rich history that you've been involved in, in the real estate that allows you to acquire that specific piece of real estate in the location that is in and then make that your primary residence as well as how you opened up the forest plan, amazing gourmet kitchen that you and your wife share with you in that time. And even the living area. Let's, let's kind of open the onion when it comes to identifying that residents and then some of the tools, the valuation tips, things that you looked at to acquire that piece of real estate. It's location, the value and the actually the, the, we opened it up to gain even more value when you get ready to be marketed somewhere down the road.
Speaker 1:Yeah. Oh, no problem. Mj. So easy topic to talk about. I know a lot about evaluation. I think I'm not as much as you, you're, you're my, you're my God. You're right here. But um, you know, so, uh, we have a really nice home. It's a fantastic location. It's called Observatory Park outside here in, in Denver. And a, it's a, a key location because it's close to a lot of things that's right off the highway, can do a lot of awesome different things. Um, I was able to buy this home. Um, I actually purchased it through 10 31 exchange and uh, kept it as a rental for a couple of years. That's a fantastic opportunity that opened up the door. So that was my whole down payment, a hundred and something thousand dollars a down payment from another home that I was able just to trade up. Um, and then knowing, um, you know, this home had a couple of really mmm key issues that made it not as marketable. It had a galley style kitchen and it had a three quarter master bath. Uh, today's Day and age, uh, those just aren't acceptable. We want these big beautiful kitchens. We, and we want these big beautiful master bathrooms. Kitchens and bathrooms, sell houses every single day of the week. So, uh, I was able to knock down some walls. You have to get an architect to help you through that. And an engineer trying to figure out how to get those laminate beams up in the attic and ceilings and a, you just work through the process. It took us nine months to remodel this house, pretty much gutted it from top to bottom. Um, it was a lot bigger animal than I was a willing, or that I expected to take on. But, um, you know, the, how do you eat an elephant? You just take one bite at a time and eventually it morphed into this beautiful home that we had. I had a vision, uh, like I said, hire an architect up front, said, hey, you know what, what, this is a gimme a couple of different of how we can go about remodeling this home. So you showed us three or four different plans and we ended up going with the one we've got here and really just open it up, allowed all of loud for us live. Like we want to live that in this day and age and it'll, you know, it should be pretty well marketable. Um, when the time comes for us to move on. We took the$600,000 home and turn it into$1 million home.
Speaker 2:Wow.
Speaker 1:Thanks Sam. But at the end of the day, this is my home and I bitched plan on living here. So I just want to enjoy the fruits that, um, we were able to make for ourselves. You've been through it all
Speaker 2:so very well done to through actually, I mean we'll have to come back and do another session just on the process of 10 31 exchange. I think that's a great segue topic that's coming out of this come for everybody because we realize that when it comes to roads, their Munis 10 31 exchange is a powerful tool and now we realize everybody, the Admin of using it's a tax, the permit methodology doesn't mean that you won't ever have to pay taxes, but they get deferred, deferred, deferred, deferred. And that's a beautiful thing when it comes to any potential gain on that property. But overwhelmingly it is an extremely powerful tool when you realize and understand the methodology behind using it. Um, and it's just, again, it's nothing more than knowledge. That same education, that learning that, uh, that Adam's brings to this conversation that we're having today for this podcast and it's matched with benefit and I loved them. You know, the little nugget, you kind of slid it in there on the valuation side going taking a property from 600,000 to a million. That is a significant up front. Look at what it, where are you going to be valuation wise as far as that project gets conservative limit. Let me open up another little piece of the w of the onion here. You talked about the idea that okay, yes we've got to go in and gut. We had to bring an architect in and uh, and then manage the lamb beams and we said those are the laminate beams, you know, four or five or six, 10 by six by tens that are actually put together to hold basically no houses. The whole infrastructure is nothing more than hold the roof up. Everybody when it comes to construction, that's all a house does. The exterior walls and the trusses that go across is nothing more than the manage the weight, the whole, the roof. Whether it's a one story house, the town halls for three layers. It's all about the roof structure, holding that rooftop. Okay. See as those beans. But now this wasn't the first time that you engaged with the architect. It was the first time that you had to open up walls. Let's to that onion back a little bit more. Cause you knew to do those things for this property. What was the impetus? What was the education that you know, previously gave you the knowledge know that was the direction you had to go in?
Speaker 1:Uh, it's uh, starting in 2008 when, uh, pretty much our real estate market was at the bottom and a, I was able to fortunately partner with a, a buddy of mine and a, we bought a 12 plex together. Um, the start of that 12 plex in 2008 was the launch of everything else that I've had from the, I have 10 mortgages right now. Because of that, it's beautiful real estate portfolio and building a couple of duplexes right now. I help to sell those. And then I've got a huge project that had planned on doing after that. Um, but it started with these 12 plex that I was able to purchase 2008 and um, we had to go through and remodel every single one of these units and that is lot of time, energy, love, passion, blood, sweat, tears, the whole nine. I didn't have to tear down walls then I didn't have to put a laminate beans in at that point. But that was the start of the education that just got me through to those next pieces that I learned after that. So, uh, shortly after that we bought a fourplex that was zoned for 10 townhomes and as Sloan's lake here in Denver, big hot area, that was a rezoned by the city six years ago, something like that. And uh, they said this, your fourplex, so there, there's fantastic, but we'd really like to see 10 town homes over here and a, you can do anything up to that amount. So that just started a little bit more of the education, started the process with the architects and the engineers and ended up not doing that project. Ended up just selling it to another investor who did it themselves. I ended up selling to a doctor actually who had the adjacent property, was building a clinic and a urgent care clinics. So he did really great and I did even better. Um, but it just started that little process there. A, the house that I had before, this was in another hot area, Cory Merrill and a, that one was succinct thing's so old, two bedroom house. It needed to be torn down. You can build a 6,000 square foot house there. And I went through all the steps to go and do this and then I stopped short and I said, you know, I don't think I want a$800,000 mortgage for my primary residence is just too big for me. I don't need that. And the live well below my means. And uh, so I got through those processes and talked to all those different people. There's builders and this everybody you need to and then I was able to have all the information to make the right decision for me and my family and ultimately sell in that property. Buying the one I'm in right now.
Speaker 2:Yup. There's so many nuggets that you touched on the engagement with others. You surround yourself with other people that had different skill sets and knowledge to sell yourself. So that's self referred myself because so many of us want to be the um, the, the the core right? We might be the core and do ourselves rather than being the core and be just be the spoken wheel where we can be the center of it but we've got everyone else helping us make that wheel turn. Uh, you talked about the engagement with other individuals that were looking to repurpose the lamp for different things and how that wound up being a more dynamic path to go. The all of those things lead into the idea of your own self improvement and how we can share them. Everyone else take a little bit more into your own self improvement just based on how that connectional process take place and it didn't mastermind as well.
Speaker 1:Hmm. Um, yeah, you're, you're hundred percent right. You know, I, uh, I have, uh, a limited skill set that I have. Um, you know, I tried to grow it to leverage every day. I tried to give it a little bit better, but there are a lot of much more powerful people that have a better skillset in a particular category that I don't like. We talked about the architects and the engineers. So, you know, those are the people that I need to have. I need to have realtors and all different places, places I need to bounce ideas off of people and learn from stuff. My, um, my accountant is on my speed dial. You know, these are important people that I have in my life that helped me get to where I need to go. I don't even know the questions that I need to ask them yet, but I will the have those, you have an Aha at the moment, but yes, you're absolutely right. And then, um, we have a mastermind group called gobundance and um, this is a, this is the same group of guys that have been doing these things and there are my wheelhouse and I need go to them and ask questions cause I know for them they don't know all the answers. I don't even know some of the answers, but I know where to find the answer. And it's in this group of uh, this arsenal of people that I have at my did not disposal, but you know, that are willing to help me.
Speaker 2:Yeah. And it's too, it's I think the greater part, and this is, I'm going to use a word accountability because when we do open ourselves up and we're vulnerable and transparent, but we're willing to say, I don't know, but we're willing to ask the question. I think so two things. I think it was Einstein said it's not the smart person that retains information. It's the one that knows where to find it. Yeah. Then beyond that is when we don't know the answer that we're willing to either do some reading or engage with someone else that does. But here in the being in the community of mastermind, I'm in three. I'm sure you're very wise hopping to another. That's another thing. But it allows us to realize that our net worth is in our net work and that is the real or not. Yeah cause we're not on an island by ourselves and more than we're willing to watch a podcast and get some information and, and take that and then dig a little bit deeper, uh, being engaged in a number of different facets. The better we are and we are allowing ourselves to self improve, which is why this topic that you bring to a podcast today is so very, very valuable now and working with, I got another question for you. We keep peeling this onion back. As you've worked with colleagues and in particular those that have been aged for your brokers, you've actually helped them grow as well. You felt their self improvement. Let's talk about just some of the nuggets that you've been able to share from your business experiences, from your, uh, working on those duplexes and then actually marketing selling properties, how you've helped them to grow as well.
Speaker 1:Yeah, absolutely. Yeah. You know, probably the people that get the biggest impact or my regular customers that buy and sell homes for, because I've got so much background in a building and real estate as a whole that the action offer so much. A lot of these new buyers, they don't understand what stuff costs. So they like this place needs to be painted though. They are like, oh my gosh, that's$30,000. So now I'm able to reel him back and say, you know, it's actually not, you know, this is probably an$8,000 job or carpet, this and that and the other thing. And that, that's really been able to impact them the most. Um, but I've got a, a number of people that are in my, uh, my local tribe here that we help each other on a regular basis. And, um, I'm, I'm there to answer questions and vice versa. We're always taking the temperature of the market. Our market's changing right now and, um, I need to know what the market's doing. And so does everybody else. So we're always talking to each other about what do you thinks things are doing? Maybe days on market are changing a little bit, maybe prices are changing a little bit. What's going on when the market as a whole, not just that, but the word here and a new hot word better but he's talking about is called opportunities zone. Got To do your homework on that. What does that mean? What does it look like? What is, uh, what's it entail? What are the advantages? You got to know what those are and you plug in. I started by listening to a podcast on that. This is a matter of fact. And then I was able to bring back what I needed to my local tribe who also knew some things when we shared about it, round Robin style. And, uh, we all gained from that. And that's happened over and over and over in so many facets. Um, when Denver comes in and changes their zoning process, um, they're allowing a[inaudible] now accessory dwelling units, that's a big deal. So you can add a second unit to a house that's already there. So you basically have a duplex. Now that's a big, big deal in a lot of opportunity. So you've got to have that tight knit group of people that you can always talk to and keep coming round robbin. Otherwise you're going to be lost in the, you know, behind you got to have good people. You're net worth is in your network.
Speaker 2:Absolutely. Again, I feel like peel this onion back and forth, no hour long conversation. But what we're going to do is I'll definitely want to come back and talk about 10 31 exchange and then I'd definitely want to come back and really peel back the don't conversations. So we've got some more dialogue about, well let me do this. Let's share some contact information. What's the best way for folks to get in touch with you to engage and hear more of your story or maybe an adjunct to their networks where they could be successful?
Speaker 1:I am 100%, uh, wanting and willing to help everybody. Um, I, somebody told me a long time ago that, uh, the more people you help, the automatically you'll get everything that you want. And, uh, that's been a really important thing to me. Um, I, uh, my email address is adamCole@realtor.com no dots, no spaces. And if you want you to call me on my cell phone, seven two zero nine, eight five four zero four, four and a, anybody that's ever got a question, you're welcome to call me. If you start bugging me too much, I'll call you, tell you, call I n j a but that's not true at all. I will, I will help as, uh, as much as I possibly can because, uh, what goes around comes around and I need as much help as I possibly can get and I'm willing to share. I've done six, 10 31 exchanges. Uh, I know a little bit about this opportunity zones, but I know more people that do know a lot more and be more than happy to help with. Um, whatever, whatever you guys need.
Speaker 2:Adam, you know this just speaks to your giving spirit and because you're, you're willing to give certainly you've received a lot as well and you're just living that out in your expression in a time that you've given today. Everybody, this has been a wonderful engagement. You can see that we do these podcasts. We're very candid. We do ask some questions and things to kind of set up just so we can move forward and get the get as much rich content. I was just together but without a doubt. As you continue to enjoy the appraiser secrets podcast powered by investor cons, go ahead, subscribe to our channel and us come back and what I ask most importantly is leave a comment. If there's a topic that you want us to uncover in terms of valuation or anything that we maybe will be touched on, that was a key point to you that I can find another expert bringing in and it and peel that onion back even further leaves those comments. My desire is to be the best possible asset and resource to each and every one of you that could possibly be bringing more and more guest for ultimate success. Adam, thank you again so very much. Looking forward to seeing this. We got, they were going to a soccer match. Kinda enjoy some stuff, live in big light, that type of thing, because without a doubt, one thing that real estate does allow you to do is have some of the freedom to choose being with your family, earning passive income for maximum success and longterm. Well, Adam, thank you again so very much for being here.
Speaker 1:Bye everybody. Enjoyed it being here. Thanks Mj.
Speaker 2:There you go. God bless and we'll see you in the next episode of the Fraser Seekers podcast powered by investor cops. Hell yeah. Take care guys.
Speaker 3:You've been listening to another episode of the appraiser secrets podcast with Mark Jackson, the place to be, to create your freedom lifestyle with more time off, security and peace of mind. Find out more@apreachersecrets.com.