Overview

On this episode of Build Your Network, Host Travis Chappell interviews Cole Hatter who is the first guest that has appeared more than once. Cole Hatter is an award-winning speaker, successful real estate investor, and Thrive: Make Money Matter.

Topics Discussed:

• About Cole Hatter○ Cole Hatter bought a new “dream houses” for himself and his wife.○ His real estate business is getting deeper on the commercial side.○ Started real state in 2005, pushing for passive income, then got into active income side.○He is in business with his Dad.

  ○Looks for apartment buildings with as few as 30 unites and as many as 90—typically 50 units.

  ○His goal is to hit a total of 500 units

  ○90% of his income is transactional.

  • Getting started in real estate

  ○ The common denominator with super wealthy people is real estate.

  ○ Buying and flipping property on the active income side can happen with hard money lenders which are

  investor-friendly without credit score concerns.

  ○ When there is at least 20% margin on a sale, lenders will be more likely to participate.

  ○ Joint venture partnership is how Cole got started—he did all the work while the investor put the money

  ○ Now they pay back the money and pay a 9% interest rate for the length of the loan.

  ○ The common denominator with super wealthy people is real estate.

  • Preparing for the recession

  ○ 2/3 of people in his mastermind: their current business was post-recession.

  ○ Look at the mistakes of those ahead of you.

  ○ Pre-recession entrepreneurs can teach you how to prepare for it.

  ○ Our economy is cyclical and has to correct itself.

  ○ Look for reliable revenue streams to prepare for a recession.

  ○ Is your product needed in a recession?

  ○ The velocity of money is when money changes hands faster in a recession.

  ○ Watch your spending.

  • The importance of diversify your investment

  ○ Force value in your properties that you bought low.

  ○ What if a company CEO of your stock gets negative press?

  ○ Use Warren Buffet’s strategy of “buy and hold” over day trading.

  ○ Tony Robbins’s book “Unshakable” and Ray Dalio’s book “Principle” are good to learn about stock trading.

  • Why Thrive was created

  ○ He started real estate in 2005 and lost it all in 2008.

  ○ Cole once owned an orphanage in Mexico.

  ○ He built a give aspect to raise money for causes with his businesses.

  ○ He has been 3 and a half years into Thrive, teaching entrepreneurs how to make a difference with their business.

  ○ Everybody has a for-purpose aspect.

  ○ Thrive has been his reason for social media.

  • You get better with effort

  ○ Build Your Network podcast has been three episodes a week for a year.

  ○ Consistency, context, and quality are the keys for improvement.

  ○ Authenticity is importance: it is easier to be yourself.

The Random Round:

• What profession other than your own do you think it would be fun to attempt?

○ Professional stuntman.

• If you could sit on a park bench with someone, past or present, who would it be and why?

○ Cole’s grandfather.

• How do you like to consume content? Books? Audio Books? Blogs? Podcasts? Videos?

○ Audio.

• Give us a glimpse of your morning routine?

○ Family time and taking his kids to school.

• What is your go-to pump up song?

○ Post Malone.

• What is something that you are just not very good at?

○ Paying attention.

• What is one place online where we will find you the most?

○ Instagram.com/ColeHatter and AttendThrive.com

Tweetable Quotes:

• “A lot of my money right now is transactional, not just in my real estate business, which is fix and flip. But,
• “It’s kind of funny, we found this (purchased house) on Instagram. So for those of you that are social media people out there, you can literally sell houses on Instagram.” – Cole Hatter. Thrive happens once a year. Boom. Income.” – Cole Hatter.
• “Owning real estate is so important. Not just on the passive income standpoint, but from a cash-producing asset.” – Cole Hatter.

Resources Mentioned:

BuildYourNetwork.co – Website for Build Your Network

Build Your Network – Facebook Group for Build Your Network

Thrive:Make Money Matter – Website for Thrive: Make Money Matter

Instagram – Instagram for Cole Hatter