Lars Hedenborg tells how his father-in-law Kendall, an HVAC technician, built a $2.5M horse farm and mortgage-free mansion by staying disciplined with money instead of spending it. Making money is one thing. Keeping it and investing it is what builds wealth.
Lexington, Kentucky.
Kendall.
$2.5 million.
About 40 acres.
Refrigeration (HVAC technician).
Hey, real estate B schoolers. Lars Hedenborg here for a special message. And this week I am broadcasting from horse country or bourbon country in Lexington, Kentucky. I'm gonna move out here so you can see this estate that I'm staying at. And this is my father in law and I want to tell you some stories about him because every time I come to Lexington, it reminds me of what it takes to build true wealth. And there's really two parts of it. Every time I sit down with my father in law, his name is Kendall, who our daughter was named after. And every time I sit down with him, it's two things that I think of and that I'm reminded of. It's the grit, the grind, the determination and the consistency it takes to build an amazing business. And then the second part is what it takes to build true wealth. Because it's one thing to make a lot of money in your real estate business, but then to have nothing to show for it. And I think there's something to be said for a guy that can put in 30, 35 years and have something to show for it at the end of it. So this, this is a $2.5 million horse farm. It's about 40 acres in the heart of Lexington and there's some serious money around horses in Lexington. So here's a guy that picked a trade out of the military, refrigeration, spun it into a career, worked as an H Vac tech and, and then built a business. And he's probably one of the biggest H Vac companies in Lexington, Kentucky. So the moral of the story is twofold. Building a business doesn't happen overnight. Luckily in real estate B school we have the tool systems and strategies that you need to build an amazing business. But you've got to apply the consistency and the grit and the pig headed discipline to build out the tools, systems and business into your business and apply them consistently. So that's the first part of it. And then what does it take to amass wealth and really to build a critical mass of capital to be able to serve you into retirement, whenever that might be. And that's the millionaire next door. If you haven't read that book, you need to pick it up. This is a great time of year for goal setting and thinking about how you're going to build true wealth. And wealth isn't just money, but true wealth, time freedom and money freedom. So you can really impact those you love and your community and just make a difference in this world. So that's the message. This is the perfect time of year to think about what your business looks like and how you can really leverage your business to become the millionaire next door, right? And just live a and I show you. This is like a 10,000 square foot house behind me. It looks way more modest than it is. But he only bought this house a year ago after he had already built all of his wealth. And a lot of us just keep up with the Joneses and we spend money before we make it. So there's two parts to wealth. There's the grit, the grind and consistency and determination to build a business. And then the second part is actually keeping the money, not spending it all and investing it. And this house has no mortgage on it and it's just beautiful here. So much love to you. Happy New Year's. 2017 is going to be an amazing year. If you're part of the real estate b school community, just honor you for your loyalty and your commitment to the program. If you're not, you are crazy. You got to take us up on a free coaching session. Hit the button below and we'll get you set up with a free coaching session. So much love to all of you and have an awesome, happy and awesome and happy new year and we'll talk to you guys in 2017. Bye. Bye.
