WIP 1916: 70% of Your Income Comes in 6 Months - Why Most Wholesalers Go Broke - Part 1

In this episode, Brent Daniels discusses the brutal realities of market cycles and the "entrepreneur's ego." Brent breaks down why real estate is a seasonal business where 70% of annual revenue often drops in just six months, and why failing to manage money during the "fat months" leads most wholesalers to total failure when the market shifts.Join the TTP Training Program for more wholesaling insights. ---------Show notes:(0:48) Beginning of today’s episode(2:02) The "70/6" Rule: Why 70% of your annual income comes in a 6-month window (3:34) Avoiding the "Debt Trap" and why businesses implode during market shifts (5:51) The Entrepreneur’s Ego: Why we fabricate "chips on our shoulders" and ruin bank accounts (10:27) Financial Thermostats: How your childhood (ages 0-12) dictates your success with money (14:32) Lessons from the 2008 crash: Going from a 10,000 sq. ft. office to losing it all in 90 days (18:13) The Golden Formula: Income - Profit = Expenses (25:48) Why you can hire friends and family (if you aren't an asshole) (28:09) Why 99% of people should stay "on the court" as self-employed rather than hiring a staff----------Resources:Profit First for REI by David RichterThe 7 Habits of Highly Effective PeopleTo speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free discovery call here to learn about our mentorship programs and become part of the TribeGo to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space. Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.It's 100% free to join. The opportunities in this community  are endless, what are you waiting for?