The Sales Development Podcast

Episode 24: Nick Ruiz

Summary:

In this episode, David interviews Nick Ruiz, author of Flip: An Unconventional Guide to Becoming a Real Estate Entrepreneur and Building Your Dream Lifestyle. Today, Nick shares his journey from Scratch to Success—the name of his new book that released on July 18th.

​Tune in to learn how Nick started building a blossoming career by flipping hopes, only to lose it all in the 2008 crisis. If you think you wouldn’t be able to recover after blowing a million-dollar portfolio—this is an episode you can’t afford to miss. Nick will show you how he got back on his feet after the Great Recession. 

3 Key Points:
1.When you’ve been broke before, being broke again doesn’t hurt so bad.
2.Do what makes you happy in your life – you only live once.
3.There’s no one single way to do something – do it your way, and don’t be afraid to break the rules.

Time Stamped Show Notes:

  • 01:20 – Introducing Nick to the show
  • 02:32 – Success from Scratch is Nick’s new book, releasing on July 18
  • 03:56 – Nick has been an entrepreneur since he was a kid
    • 04:07 – In his late teens, Nick already knew he wanted to do something BIG
  • 04:18 – In 1999, he saw a commercial for a “no money down” real estate course
    • 05:19 – He made a move, took the course, found a home for sale, creatively financed it, bought it, collected rents, sold it, made money and did it all over again
    • 05:36 – But the time he was in his mid-20s he had a million-dollar portfolio
  • 05:42 – Then the 2008 crisis hit
    • 06:07 – Nick went into bankruptcy
    • 06:17 – “When you’ve always been broke, the pain of broke is less severe than if you had success and then went broke”
    • 06:32 – “I’ve been in both places”
  • 07:23 – Nick was in rough shape – physically, emotionally, and mentally
  • 07:34 – All the personal development resources in the world don’t prepare you from your collapse
  • 08:06 – What happened to him forced urgency
    • 08:14 – Embrace the urgency to make something happen
    • 08:51 – Nick had to make something happen for his family
  • 09:15 – His story matters because it gives people hope
  • 09:30 – Nick wrote his book, Success from Scratches because he has been successful from scratch multiple times
    • 09:58 – “This is stuff you haven’t read”
    • 10:23 – “Everyone has a unique evolutionary success path”
  • 12:28 – Perks and benefits are created to make sure employees are happy and the company’s vision and dreams happen
  • 13:03 – Comfort may slowly be extinguishing the dream inside of people
    • 13:44 – We only have one life to live
    • 14:18 – If you feel you’re in a job that you’re meant to be in, that’s already successful
    • 14:25 – There are people who want to do more, but are afraid to leave their jobs because of the benefits
  • 15:36 – The capitalist economy is nature – if you don’t evolve, you get eliminated
    • 16:20 – “It’s very simple. Get rewarded or get eliminated”
  • 17:41 – Nick doesn’t remember how he got out of his depression after the 2008 crisis, but he remembers he just snapped out of it
  • 18:19 – When he got back in business, Nick was very strategic with reinvesting his profits
    • 18:47 – Freedom is a cash purchase
    • 19:32 – Buy your freedom first before you buy luxury
  • 19:37 – Commercial Break
  • 21:54 – All about free money in tech
    • 22:07 – Running a business behind an app is a whole different skillset
    • 22:52 – Selling apps and app ideas is a disconnect for Nick
  • 23:18 – Nick believes bootstrapping is a healthy way to start a business
  • 23:55 – A business is supposed to earn money
  • 25:12 – The killer app idea is only a key to walk in the door to pitch in – it’s not business, essentially
    • 25:51 – Nick thinks a lot of things lack common sense
  • 27:05 – Invest your other profits in real estate if you already have a business
    • 27:10 – 95% of the world’s wealth is either created or maintained
  • 27:56 – “Understand how rough draft moves change everything”
    • 28:20 – Make a rough draft moves
    • 29:17 – Working is making moves
    • 30:00 – “Just do things!”
    • 30:19 – “Your plans on the whiteboard don’t exist…your move is real”
  • 31:36 – “Everybody does things differently”
  • 32:04 – Nick speaks and transcribes – he speaks his book
    • 32:22 – There are no rules in anything
    • 32:31 – Do things your way
    • 33:56 – You don’t have to follow the steps to write a book – do what works for you
  • 36:28 – People need to give themselves the permission to make mistakes
    • 37:18 – Entrepreneurship is making mistakes and correcting consistently
  • 38:21 – Go to Amazon and search Success from Scratch to get a book
  • 38:35 – SuccessfromScratch.net is where you can find the book and Nick
  • 39:14 – Check out Nick Ruiz’s videos here

 
Resources Mentioned:

Credits