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
- 01:32 – He’s the founder of Alpha Home Flipping
- 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:
- Flip: An Unconventional Guide to Becoming a Real Estate Entrepreneur and Building Your Dream Lifestyle – Nick’s book
- Alpha Home Flipping – Nick’s business website
Credits
- Show Notes provided by Mallard Creatives
