Wealth Building with the One Thing & the Millionaire Series | Jay Papasan | Talks at Google

Jay Papasan is the vice president of publishing and executive editor at Keller Williams Realty, Inc. In 2003, with the release of The Millionaire Real Estate Agent, co-authored by Gary Keller and Dave Jenks, Papasan became a best-selling author when the book spent time on BusinessWeek's best-seller list. In 2005, they co-authored their second bestseller, The Millionaire Real Estate Investor. After working on Rick Villani and Clay Davis's best-selling FLIP: How to Buy, Fix and Sell Houses for Profit in 2007, he co-authored Your First Home with Gary Keller and Dave Jenks in 2009.
His latest book, The ONE Thing, co-authored with Gary Keller, came out April 1, 2013 and debuted at #6 on the Wall Street Journal bestseller list and reached #1 on May 3, 2013. Since then it has made more than 300 appearances on national bestseller lists and has been translated into 24 languages.
Jay's presentation will tap into in-depth research with over 120 millionaire real estate investors and draw a straight path based on what they all have in common. That’s The Millionaire Real Estate Investor. And we can organize using the principles of The ONE Thing-itself a 5 year research journey into the common approach found among top performers across both investing, industry, athletics and even the arts.
Jordan Thibodeau moderated this Talks at Google event.
You can find his latest book on Google Books: goo.gl/sHPe1z

[@JayPapasan]

Thanks again for having me, Jordan!

[@CeleronS1]

Thank you Jay for presentation! It's really nice to get all this into one video. I bet you have idea how hard is to explain to average joe this kind of mindset. :) Anyways I just wanted to say that I chose stocks over real estate, but I'm very aware what accelerators I do need to use to be true active investor. Thank you again for your input!

[@robertoenamoradoakaroberto5654]

Jay Papasan As I posted is the previous comment..."This is awesome!!! I'm only 26:00 minutes in. Can't wait to finish the rest. Lunch break over...gotta build my own Go To Hell Fund asap! Thanks for the clip." I will be purchasing both books soon. Thanks again.

[@jinzongli884]

I am a foreigner living in Oklahoma. I am trying to invest in the real estate market. However, I found out that I can not take a conversational loan due to the fact that I am not a citizen here. Therefore, I am thinking about bringing in a partner to help me reach my goal. I will have cash available for the down payment and my partner on the other hand will have the credit line to borrow against. I notice from your interview that you have done two deals similar to this structure. I would like to learn how we should set up the operating agreement to properly protect each other's assets in this case. I am thinking about investing in single family rental properties. I appreciate your comments.

[@albertb5863]

Jay Papasan great info Jay liked your bigger pockets podcast as well it was awesome and Austin is an absurdly weird and cool town !

[@JayPapasan]

Sorry I'm just seeing this. Be very clear with your investment partner about the terms and what happens if bad things happen (like a default, or if their loan doesn't fund...) and then get a lawyer add any special terms you've agreed upon to a standard contract for your area. people always write contracts for the best case scenario but they are really to make sure you know what to do when things don't go well. It takes all the emotion out of it. Oh crap. That happened. Okay, how did we agree to deal with this....

[@deepakgehlot795]

Lesson learnt 1. Develop a habit of investing 2. Keep track of your income and spending 3. Doing one thing over a period of time becomes extraordinary large 4. Take care of cost of selling 5. Be surrounded by investors and keep on learning from them 6. Have mentor and follow their advice

[@DrHelenEmore]

Good summary

[@toanleuc1867]

Omg, this is such an imaginable high quality content.

[@Mooshnick]

....with only 22 minutes in...LIFE TRANSFORMATIONAL ...and I can already feel some of the most simplest methods being an "Easily Applicable Life Hack" WOW....Thank for you for this Google Talks!!

[@thequiteman3977]

I watched this video in 2016 and started tracking my net worth manually. It's true what Jay says, that number informs all my financial decisions now. I am happy to say I am on the road to riches. This man has wisdom beyond his years. Watch this multiple times and read the Richest man in Babylon.

[@josefrancis7126]

IT IS A PART OF JEWISH WISDOM.

[@javierg602]

This is PURE MONEY. I had to pause it for a little bit to digest it.

[@henrique6807]

I wish I could thank Jay personally for helping me to redefine my own purpose. Because of that, I'm able to say that, right now, the most important thing for me is to be financially free to devote myself to the work that is the most suitable for me. And that's why I also want to meet people who have a similar goal. I'm aware that my current purpose may be way too much influenced by his, but at least I know for sure that not achieving it would hurt me much more than not achieving the one I previously had.

[@kumarprem7943]

Great talk. It is Easy if you REALLY REALLY want it.

[@tushartr]

Hi Jay Just pure GOLDEN NUGGETS of sheer wisdom and experience. Thanks a lot for sharing.

[@harrisonjamie794]

Smaller, speculative stocks have endured a historically weak stretch. Investors are betting that a turnaround is finally in the works. I’ve lost about $320k within a few months, how do i take advantage of the market turnaround?

[@MarcelPhilips]

There are many interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell stocks.

[@harrisonjamie794]

@@MarcelPhilips Having an investment adviser is the best way to go about the stock market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly and I made over $800K within a short time

[@MarcelPhilips]

@@harrisonjamie794 That's impressive! I could really use the expertise of these advisors. how can I get to your advisor?

[@harrisonjamie794]

@@MarcelPhilips renowned for her proficiency and expertise in the financial market, *KRISTIN GAIL CUNNINGHAM* my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain.

[@MarcelPhilips]

@@harrisonjamie794 I Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds

[@n.d8001]

Clear helpful transformative impacting talk. Thank you

[@vimalalwaysrocks]

These Google Talks are great!! So much valuable information for free on youtube...! I like these talks better than TED Talks as it is less scripted and more relaxed and natural.

[@wteree]

thanks for sharing Jay. Illuminating talk, and I specially liked the bit on use of leverage - both time and money. Have read the One Thing and got a few very valuable insights from it.

[@nbme-answers]

1:03:00 owner financing 49:30 how to pay for cars 48:45 net worth(s) and the great disappearing new car "asset"

[@Michael-4]

What I like is anyone can relate to this guy and think, yes, it's possible for me too.

[@robertoenamoradoakaroberto5654]

This is awesome!!! I'm only 26:00 minutes in. Can't wait to finish the rest. Lunch break over...gotta build my own "Go To Hell Fund" asap! Thanks for the clip.

[@michaell4235]

Let me save you some time. At 38 minutes the big reveal: invest in real estate for 20%+ annual returns. Please buy all his books too (more passive income!). If you think you can do 20% annually at a reasonable level of risk, keep studying finance. There are some gems in the Q&A at 57 minutes, leveraging time, equity percentages in real estate, etc.

[@knpstrr]

Leverage (mortgages) makes +20% CoC returns fairly simple to do in real estate in many markets.

[@nickditomaso1340]

Great presentation Jay. Really resinated with me. You show some spreadsheets. Do you have a link where I can access them? Keep up the great work

[@mikek4400]

Great session

[@11236marc]

I love this. Verry helpful

[@ianthesiow3013]

Very good.... Impressive. TQ.

[@leedsdrumacademy]

It's Jonathan Haidt ;)

[@ladyeater13]

So game I get keep picking up so much game on these videos thank you

[@sigmatau8231]

one question on rate of return on investment... whr have u factored in cost of the $120,000.00 leverage, i imagine there is some payment of principle and interest going to the loan provider. thnxxx.

[@krzysztof3546]

What is the exact title and author of the book Jay is mentioning at about 52:00?

[@henrique6807]

Hs name is Tom Corley. By the way, I don't know if I'd be able to judge how good his book, Rich Habits, is. But I know that it was very useful for me, and, being a short read, I think it's well worth most people's time.

[@trevorndhlovu7834]

"Positive and negative habits actually define us."Jay Papasan

[@David-kd4qr]

New comment. I liked this talk, very smart and strait forward. But I still stand with the previous for the overall trend.

[@DJSTOEK]

🖤

[@TR-lz3kh]

55:41

[@Ai-immo]

35:30 so basically investing in stocks is considered "safe money"? And the goal according this speaker is to aim at 10-20% annual return on your investment. And he gives as an example real estate investment... As he says, "do the math", what he might have managed to achieve might be more an exception than something that anybody can replicate...

[@MarincaGheorghe]

The growth he mentions there, 20% his math problem might be very hard/improbable to attain I agree. With all the leverage when will things grow that much ?

[@YMichurin]

agreed. He bets on rapid property appreciation, and it did appreciated rapidly indeed, mostly due to interest rates going down. With interest rates close to 0 and banks tightening lending standards, not sure this is a good strategy from now

[@pulkitjain3775]

+ 25:41 : Purpose / Goal Questions : If there is not pain associated with that third particular question you're not quite there yet +

[@onlineeducationnepal7842]

I gonna be rich 1 day

[@David-kd4qr]

Anyone else feel like the quality of speakers has been falling off? It seems like there are less science/writers talks and more 'just my opinion' talks from people who are popular enough but can't always back up what they say. Not saying this one is bad, just a general trend I've noticed.

[@paulmartin42]

No I just think that there are cycles. Mid year its down now its on its way back up. If you asked me when the best of google talks was I would say the last couple of weeks ...

[@CharlesFormanWonderUnit]

I was just about to comment, when I saw yours. Absolutely. This and many other recent talks are almost complete garbage.

[@CeleronS1]

Investor series are pretty good. Sure there are some % that is not usable, but it's nice see even that perspective.

[@tushartr]

Not really, if you have the right real estate investor mindset.

[@jimjackson4256]

Well if you tuned in to see something about black hole thermodynamics this isn’t your guy.

[@maahaveerapprashad6921]

gulu

[@ctsirkass]

So he discovered leverage through borrowing in the real estate market. Not a very profound idea.

[@jinzongli884]

I am a foreigner living in Oklahoma. I am trying to invest in the real estate market. However, I found out that I can not take a conversational loan due to the fact that I am not a citizen here. Therefore, I am thinking about bringing in a partner to help me reach my goal. I will have cash available for the down payment and my partner on the other hand will have the credit line to borrow against. I notice from your interview that you have done two deals similar to this structure. I would like to learn how we should set up the operating agreement to properly protect each other's assets in this case. I am thinking about investing in single family rental properties. I appreciate your comments.

[@briankanaczet3635]

I don’t know

[@robefx4968]

Saitama

[@XOPOIIIO]

I have 10% return a month.

[@omgyeaXD]

"Passive investing makes less money" My crypto just went up 100% in a week lol

[@Rachel-zc8ur]

This comment didn't age well.

[@george6977]

And the exchange could disappear, hackers steal your tokens or Bitcoin collapses just as quickly.

[@omgyeaXD]

@@Rachel-zc8ur went up 100% again

[@longfield8978]

at lease half of this speeching nonsense , it will be better if you tell us how to be a writer

[@RyanTheJenks]

What part of it is nonsense? I don't think I heard anything that isn't accurate.

[@openlc555]

I wonder if the lecturer is aware of this: He is enthusiastic and the content of his lecture is fine, but he displays a lot unpleasant facial expressions. It's hard to look at his face.

[@mariebarnes9220]

I love this. Verry helpful