#093: Start a Business, Grow a Business and Invest All in Real Estate

Welcome to The Accelerated Investor Podcast with Josh Cantwell, if you love entrepreneurship and investing in real estate then you are in the right place. Josh is the CEO of Freeland Ventures Real Estate Private Equity and has personally invested in well over 500 properties all across the country. He’s also made hundreds of private lender loans and owns over 1,000 units of apartments. Josh is an expert at raising private money for deals and he prides himself on never having had a boss in his entire adult life. Josh and his team also mentor investors and entrepreneurs from all over the world. He doesn’t dream about doing deals, he actually does them and so do his listeners and students. Now sit back, listen, learn, and accelerate your business, your life, and your investing with The Accelerated Investor Podcast.  

Josh: So hey, welcome back to Accelerated Investor Josh Cantwell here and I’m so thrilled and excited that you’re taking a few minutes out of your day to spend with me and my guests to level up your investing level up your entrepreneurship, live a life of freedom and abundance with you and your family and your friends. And I hope and thank you that I’m able to spend time with you and be a part of it today. My guests are Paul and Adam Vincent from Vincent Esquire. They’re attorneys, they’re based out of Cleveland, they work with entrepreneurs and they have a lot of insight into what it takes, not only to be a successful entrepreneur, but how to grow a business, how to scale a business, and then how to invest the profits in real estate. So Paul and Adam, thanks so much for joining me today buddies. How you doing?   

Paul: I hope we can live up to that set a high bar for us. Yeah man, thanks a lot for having us.  We’re excited.   

Josh: Yeah, you bet. So guys, you graduated from college, decided to be attorneys at first thing I’m always interested in hearing about is when attorneys decided to create their own practice. Of course they not only have their legal hat on, but now they put on the entrepreneurship hat themselves. You guys decided to go that route. So help me   understand when you decided to become an attorney, why start your own firm instead of go work for one of the big ones?   

Paul: Yeah. I always people ask stuff like that. I say it’s my mom’s fault. She just gave us too many hugs so we thought we could do whatever. But yeah, so we actually had an opportunity where a buddy of mine had a big tax lien buy our client and they were moving into Northeast Ohio and he’s down in Southern Ohio, down in Hamilton County. And it just happened to be that he was telling me about what he was doing. I worked with him a couple of years prior and he’s like, hey, they’re actually thinking about coming up North. I was like, dude, if they want to come North, I’ll be the guy an I was like, I’ll figure it out. So it was like, what I remember now, only feeling like five minutes later, but it was only like a month or two later, he was like, hey, they’re coming North, man. What are you ready to do?   

Paul: And then we thought about it for about 25 minutes or so, and then we were just like, screw it. We’re going to do it. And we had perspective to back then our older brother had passed away. And it’s kind of like when you have something like that happen, you’re like, you know, you’re here for such a short time. We should have fun and do what we want. And, um, so that kind of, I think it was a big thing for me. Do you remember anything?   

Adam: Yeah. No. I mean, we being brothers. We’ve shared a room with, we went to college  together. We spent a lot of time…  

Paul: Stuck, we were actually stuck.  

Adam: Turned out, we were like, looked up well, like, hey, we’re in the same industry, you know, so we knew we’d probably do something. It was a little sooner than we expected. I was relatively new attorney and so, you know, I think it decided to do, it was like Paul said, perhaps not necessarily a substance for good reason. No, I’m just kidding. It was, you know, saying to ourselves, why not now? And we’re ready for whatever challenges that came ahead. When you have a partner that you can trust and that you’re going to hustle with. I mean, we figured we did, you know, that helps too. So.   

Josh: Nice. So starting a business and becoming a new lawyer all at the same time definitely not easy. Not much different than I’m going to start investing in real estate and maybe quit my job in order to be in real estate. But now I’m a real estate investor and I’m also an entrepreneur. I got to figure out how to build a business. So what had been some of the keys or things that you guys have done well in building your business, your business just happens to be being attorneys, other guys build a business that happened to be like you said, one of your clients sells bulletproof vests and other clients invest in real estate and other clients are building maybe an eCommerce business. But what are some key things that you’ve seen in your own practice that have helped you guys build a successful business around law?   

Paul: Yeah. I think one of the most important well I’ll try the most important things when you’re starting businesses, hey, where are my clients going to come from and how much  are they going to pay me? So we were, we kind of found out not the hard way, but we found out very, very quickly that when we had this kind of a cash cow client that was sending a bunch of these tax liens across the table, it was super, it was really easy to be lazy and not out, you know, shaking hands eating lunches and things. So we saw when that opportunity started to dissolve because they get the next bid and these counties and things we said, oh s we should go meet, we’ll scope. I think one of the most important things is one, having a plan.   

Paul: I mean if you have a feeder where a bunch of money and cashflow is coming in immediately because maybe you left like an insurance shop, you started your own or whatever and you have that cashflow kind of already built in. That’s really good. But one of the most important things is learning the value and the importance of networking. Everything is sales. It doesn’t matter if you’re a lawyer that sells, you know, SEC compliance or you’re, you know, a guy that needs to raise capital for apartment complexes everything is sales. So I would just say for anybody that’s interested in that is if you’re not interested in expanding a network and pitching product, it’s going to be really hard. But if you are interested, I mean it’s just, it’s gratifying. It’s provides a lot of freedom. It’s really, really great. So.   

Josh: Yeah. How have you guys structured your firm in such a way? A lot of the great businesses that I’ve seen have consulted with or I’ve invested in or I’ve just heard or read about a lot of them are partnerships. You typically have one guy or one gal that’s kind of the face of the company, maybe out selling, being on webinars or stages, selling the business or even in real estate, maybe being the acquisitions manager who’s out buying the properties, the flips, the single-family rentals, the apartment building, and then another guy, kind of an opposite skillset typically.   

Josh: Someone who’s more back at the office, maybe taking care of the operational side of things, making sure that deals are closing, that we’re collecting money, we’re making profits, someone’s kind of out in front stirring the pot and someone makes sure at the back of the, you know, that we can sell whatever’s in the pot and keep money in the house to growing a company. How have you guys structured your business in such a way that you guys can really optimize each other’s skill sets? Even though your, you know, brothers probably have a lot of the same characteristics.   

Paul: Yeah sure, right. You can tell. You can tell.  

Adam: Yeah. So he will, he doesn’t want to say he’s the on camera personality, the talent, the rainmaker. Pauls’ more outgoing. He’s had more experience when we get started, you know, maybe help that way. But he’s the one that’s out there making relationships.   

Paul: Adam’s just smarter.  

Adam: I’m traditionally been more of a nerd. You know, spend more time reading books and…  

Paul: I’m street smart though, mom. That’s right mom, I’m street smart.   

Adam: So that’s what I was trying. Yeah, I mean, and it works out that way. Obviously there’s overlap. And that’s what I think, but I think that’s really how it’s how it’s played out. And I’m doing my best to get out there, make money spend less time.   

Josh: Well honestly that’s typically how successful businesses are run. You’ve got one and it comes down to mutual respect, right? You like you respect each other because you’re brothers, but you respect the fact that you have different skill sets. Somebody needs to be out in front. And a lot of times I’ve seen businesses not work. You have a guy who’s in front who thinks he’s so important or she’s so important to the company because they’re the rainmaker. They bring in clients, they bring in deals, they bring in whatever and they discount the person in the back of the house that’s really dotting every I crossing every T getting every deal across the goal line. So you guys seem to have that lick that one of you likes to be out front. One of you maybe likes to be more the smarter one, the nerd, the operations guy, whatever it is.   

Paul: You can say it, that’s fine.  

Josh: Yeah, whatever it is. But a lot of business is great to see that you guys have set it up that way. Maybe naturally set it up that way at birth, but you guys have done that. So let’s talk a little bit more about your clients and some of the same specifics and characteristics that they may have. You guys have clients that are in real estate, but all different kinds of other niches and you help them, again, with this trilogy of starting a business, scaling a business, and then typically investing a lot of the profits in real estate. Tell me about some of those clients. What are some characteristics that they have that you guys have witnessed that have allowed them to grow and be successful?  

Paul: Yeah, I one thing we always kind of go back to and we talk a lot on to our clients and like, we have this little silly podcast, but it’s curiosity. So I think the number one thing of folk that are successful in whatever it is, you know, it’s being a school teacher or raising money or starting a business, like you have to be curious, right? So like, you know we had talked earlier, you were kind of like in a spot where you, where you needed to do something. So how did you figure out how to do it? You started looking into it and I think the most successful people are really curious about how things work. Not like how a watch is made or something, but like, you know, how do you start a company that lends on commercial buildings? How do you start a law firm? How do you get a client that buys tax liens? What the hell is a tax lien? So I think curiosity for me is the number one characteristic. If I had to nail that down.   

Adam: Yeah, for sure. And then there’s a little bit of flexibility that comes with that. You know, you got to be ready for whatever it is you find out through curiosity, you got to be able to adjust and be flexible. Have a little bit of courage. You know, there’s going to be ups and downs. You’ve got to have some patients, you’ve got to have trust with your partners, you’ve got to have patience with clients or customers or whoever it is. But you know, one of the things about Paul mentioned sales is a huge thing and a big part of it is having patience with people and not burning bridges, right?   

Adam: You know, the short term it, if you might feel like somebody took completely in the wrong, but what’s the point of burning that bridge, right? So you figure out how to be  patient with people and give them a benefit of the doubt and that sort of thing. But I think curiosity and flexibility. I had a guy who was actually a lawyer, but he got out and did a lot of things in the business world, real estate. And one of the things he told me he was a mentor when I was new, he said, you know, one of the things what I think set me apart was I wasn’t as scared as most people of getting sued in business deals. And so he’s like, you know, that gives you a little leg up when you’re a lawyer and you understand the mechanisms of it and what you can negotiate and that sort of thing. Now that you want to get sued or you want to, you know, outline claims. But it’s, it’s that perspective of understanding the things behind the scenes that of kind of set you apart and give you a leg up.   

Josh: So tell me, so curiosity, flexibility. I heard courage, trust in your partners, patients. So those are all like actions and feelings, right? And things that you have to have. How about in the businesses that you’ve consulted with and advised whether they’re real estate businesses or outside of real estate from the day to day operation, do you see anything in the way that they run their companies? Is it, you know, hiring the right people, hiring A players? Is it standard operating procedures? Is it just maybe focusing on one niche?   

Josh: Like you talked about this huge client you had, all they did was tax liens. And you see so many companies, especially new entrepreneurs that are like, yeah, I see people on Facebook and Instagram all the time. They’re like, last year I started seven businesses and I’m like, yeah, and this year they’re all going to go bankrupt. So they have like a laser focus on one thing. So what are some of the additional characteristics that you see in how they operate on a day to day basis that have allowed them to be successful? You’re obviously have some insight into these companies that most of the people wouldn’t be, you know, an advisor and a lawyer to those businesses.   

Paul: I think you had to pay attention to the problem areas. So we see a lot of problems with boss to employee, you know, it’s like, oh, I don’t even have an employment manual or you know, I let this employee show up late two hours every Thursday. But somebody else’s, you know, got terminated because they were gone for 10 minutes. So I think having a systems in place is very important. Probably just as important. That is like, is knowing that you don’t know everything. So we rely on people that do know what they’re doing. You know, we have meetings all the time. We ask, you know, just, you know, over lunch, hey, this, you know, are you doing this? Are you doing this? And they, you know, of course no one does. So kind of goes back to curiosity, but just know that you don’t know everything and you have to rely on people that know that those specific things, because you don’t even know what to ask. So the most successful people I see know that they’re not the smartest person in the room and they rely on a lot of other people.   

Adam: Yeah. That was exactly what was going to add. I think it’s important entrepreneurs are kind of a self-made or whatever kind of idea that’s out there about what an entrepreneur is. But really you got to be, even if you are self-made, once you’re made, you have to also continue to grow and address problems as they come up and recognize them, like Paul said. And it really comes down to also being humble enough to seek out help when you need it and to do things the right way.   

Josh: Right. Yeah. You think about like when I see like this, we just got done with this college football season, right? And there’s all these coaches and bowl games and all this different kind of stuff and you know, they always interview the coach at the end. And I love it when you hear a coach say things like, you know, my players are the most important part of the team. It’s all about the players, right? And I have some friends that work for the Cleveland Cavaliers and they’re like, it’s all about the players, right? Because the organization, whether it’s the team, same thing in business, the organization is really made up of the players, the teammates, the staff, the employees that make it happen. Somebody has to sit in the captain’s chair, somebody has to sit in the CEO seat. But that seat is really no more or less important than the other seats.  

Josh: Because all the seats are important, right. And successful entrepreneurs that I’ve seen, they don’t, they’re very humble but also know exactly what the hell they want. So in times in my business when we’ve run really well, I can look back and say, you know, I was humble, but I absolutely knew where the company had to go. And I drove everybody in that location that way. And there were times when I was confused about what we should be doing. I didn’t know, maybe there was a new wrinkle in the business or something happened. I wasn’t sure where to go. And then everyone’s confused and things don’t work as well. So the CEO, if you’re growing a business, you got to have that humility but also have to know exactly that’s what you’re there for is the CEO. Look at what Donald Trump is doing to our country like him or hate him.   

Josh: He knew exactly what he wanted the country to look like. And he’s pushing that direction forward. He was hired, voted to be the CEO, if you will. And people, some people hate him, some people love him, but he’s doing exactly what his vision is for this country. No different than the guys who have been CEOs at Disney. You know, Bob Iger and Walt Disney himself. They knew exactly where they wanted to go and they pushed in that direction but sat back and were super, super humble about it. I’m sure you guys see that in the CEOs that you consult with.   

Paul: Yeah. You could tell like a leader, right? Because then that leader kind of drives the culture and culture is so important, right? If your employees hate going to work because you suck, I mean you’re, the whole deal is going to blow up. So leadership is important. Making sure you’re driving good culture. Those are, you know, the most fun places to work are usually the ones that are growing the fastest. So that’s very important.  

Josh: That’s a great point. Yeah. Culture and growth is tough to fake. It’s tough to  manufacture. It really comes with everyone feeling like they’re making progress, right? That’s a great culture builder. And I’ve been in companies, I’ve owned companies that were kind of going the wrong direction and you can’t manufacture good culture. It’s hard. You try, but it’s really, really difficult to do it. So awesome. So let’s talk about this trilogy you guys have worked through starting a business, scaling a business, and investing in real estate. So what are some of the advice that you guys pass along to entrepreneurs? Maybe they already own one business and they’re starting another one, or maybe they’re in real estate, but they want to get an eCommerce or they were in eCommerce and they want to get into real estate. What are some pillars, I guess, if you will, some common traits of things that they needed to do right. To start a business successfully and get it off the ground?   

Paul: Yeah, I mean, just the most basic thing is having a legal entity around the show, right? And that, and that legal entity needs to have a formal backing, which usually comes up as an LLC in the form of an operating agreement. If you have partners, you obviously need an operating agreement to kind of put in writing what everybody’s going to do, how it’s going to run who can, you know, checkbook authority and that sort of thing. And then, God forbid, something were to happen to one of the partners, like, hey, now what, right? Who gets bought out? Is someone going to get bought out, is a trust going to take over as a spouse now a partner. So you know, that that kind of initially I think is the most basic thing.   

Adam: Yeah. And I think one important thing we always encourage clients to think about, even when we’ve talked to them, you know, go talk to somebody, but find a lawyer that you like to talk to that will take your call that, you know, will earn their money, but also be somebody that can help you in the bigger picture, not just with drafting one document, right. And having to, one thing we pride ourselves on is not just getting a call for drafting the document the client thinks he or she needs and then being done with it. It’s more about a holistic view. So find somebody that’s going to kind of look at your business in the big picture and helping grow and address the problems as they come along. Not just draft one thing and then wait a couple of months until you call back or that sort of thing. So somebody that’s going to be a resource to bounce ideas off of and help you really identify…   

Paul: How bad is this idea?  

Adam: Yeah. And be willing to offer you the bad advice you might need.  

Paul: Yeah. It’s like as lawyers or kind of service industry yet, you can just call anybody, but we to tell people like, Hey look, just because we’re the first warm body you may have called because you found us somehow or somebody referred. Don’t think you should be obligated like shop around. You have to not look forward to the call, but you can’t dread when the lawyer calls you. You’re like, I can’t stand this person. Like if that’s what it is, lawyers or any professional service, they should be, not legally a partner, but really a partner and kind of what your goal is. So you know, find that spend time, you know, you can’t really know somebody until you drink coffee or eat lunch or find out about their family or what they’re up to. So like spend time with people, you can’t know them until you actually can ask them questions.   

Adam: And be able to make the call before the problem. Or plan…  

Paul: If your going to fire that person call me yesterday.  

Adam: Right. So yeah, so those are some things.  

Josh: What I notice to is…  

Adam: Go ahead.   

Josh: What I’ve noticed too is, um, when I’ve seen deals go bad, right. And as a lender, we’ve seen deals go bad and I’ve seen borrowers that we lent money to that got sideways on a deal, but then later found out that they had already also borrowed money from someone else. Like a mom and pop private lender or a mom and pop joint venture partner equity investor and then the equity investors calling us saying like, hey I have a joint agreement with this guy and you know he owes me money and don’t lend him any more cash. And I’m like well okay, send me the operating agreement and there is no operating agreement. There’s, your not on the LLC, you’re not on the operating agreement like and Oh by the way, like I can’t even discuss this loan with you.  

Josh: I’m not authorized to discuss it with you unless you get authorization from your partner and he doesn’t want to give you authorization, right. And so it’s a lot like, I don’t know if this is the right analogy, but I think it is like it’s a lot like life insurance and I used to be in the financial services world, you’ve got to buy it before you need it. With working with an attorney, getting the advice up front and bringing that attorney to the table is always going to be less costly than if you’ve got to make up for it down the road, right. Got to buy it before you need it.   

Adam: Yeah, exactly. And no one puts together an operating agreement, planning a company going sideways or partners, never talking to each other again, whatever, you know, you don’t do that. But what you got to do, what’s right, do the adult thing and put the documents in place in the event don’t go as planned when you’re going and starting to do business everybody’s excited. Everything’s just going to be the next thing an be great. But you’ve got to plan for that alternative.   

Paul: And for your listeners, a joint venture agreement, just as in like, hey, we jointly agree to do something like put it in writing, you know, like you get it down. And also be in violation of SEC compliance. That happens all the time.   

Josh: Yeah. Joint agreement could easily be a security, right. Especially if you have one operator that’s doing the deal. And the other person’s profits are dependent upon the other operator typically that’s good to be looked at as a potential security.   

Paul: I love people that think they’re smarter than the SEC that’s been around since the 30’s right? No, they’ve never thought of that. You know, we’ll put this as a JV. Oh we should be fine. No, you’re not. You’re not.   

Josh: Yeah, so growth, right. So the second pillar is kind of scaling a business and what are some of the things that, again, you’re advising your clients to do, some of the characteristics that you see successful businesses doing. And then conversely, the businesses that are failing when they’re trying to scale. What are some things that you’re seeing that they potentially do wrong, whether it’s maybe not having enough funding, whether it’s, you know, they’re bootstrapping it and they have a great idea, but they don’t have the capital. Maybe it’s their entity structure or maybe it’s a bad employee or a great employee. There’s, you know, there’s growing a business and it really smart way and doing a good job. And then there’s the opposite, which is your business is failing. Usually it’s because you did one thing right over here or did the exact  opposite over there. So what are some of the things that you guys see along those lines and successfully scaling companies or businesses that are really struggling?   

Paul: Yeah. No in order really grow, you have to drop the, you know, white knuckling of what your day to day operations are. So the most important thing is, is making sure you have a team that can take some of those tasks because you can’t grow if you’re just trying to do everything yourself. So, you know, hiring people is important. Make sure you’re hiring them in properly. Make sure you have, you know, the boring employment manuals and things in place. So in case you got to fire them, you know, there’ll be, if they’re going to get fired for that sort of thing. So I think that’s the big thing is letting go to responsibilities as you can shove off to somebody else so you can go do something that is a better revenue generating activity.   

Adam: Yeah. And as you’re growing and establishing the new roles that you’re going to hire for, you hire the right people. You’ve got to establish that culture and then they have to know what they’re supposed to be doing and what their expectations are. And I think it’s easy for a person who’s been doing everything to just say, okay, take over X, Y, and Z. And a person understands and knows exactly what XYZ means, but they often don’t, you know, it really does take time to grow. You can’t just set a lofty goal about how much growth you’re going to have this year and then think it’s just going to fall into place. It really takes a lot of that planning. Establishing the framework that’s necessary to get to that growth in a healthy way, in an organized way.   

Adam: So it’s not a chaotic office and not a business that set a super high and lofty goal, but instead of moving toward it, it was going up a hill, but then ultimately the way it was done, it’s just going to go off a cliff. You know, and so there’s no use setting that lofty goal of growth if it’s going to lead to that. So be thoughtful about it really takes time. It really takes time sitting down and figuring out your plan or the team’s plan and then getting the professionals in help advise you on getting there.   

Josh: Yeah, no doubt. I’ve used this analogy in the past that, you know, building a business is like a marathon. If you look at a marathon is 26 miles, I think it’s 26.2 miles, right? To run a marathon.   

Paul: That’s what the stickers say.  

Josh: Yeah. That’s what the sticker says, right? 26.2 and but building a business like in order to build a business, I think the biggest mistake I see from a lot of entrepreneurs is I’m going to build a business. They one, don’t know how they’re going to exit the business. And two, they’re doing it because it’s a good idea that they think is a good idea, something that they’re passionate for, but they’re not, they don’t have a longterm approach on it. They’re like, well I’ll just start this business and see how it goes as opposed to I’m going to start this business and I’m going to build it for the rest of my life or build it for the next 5 to 10 to 20 years and then I’m going to exit it with a specific exit strategy.  

Josh: So if you look at business as 26 miles or 26 million, I’ve often used the analogy, and I heard this from Kevin O’Leary when he spoke at my event and he said, look, when  you’re going from zero to 5 million, think of zero to five miles when you’re running the marathon. The first five miles or the first 5 million, you can absolutely sprint. You can work long hours, you can work 18 to 20 hour days. You can just muscle it as a small operation. The CEO or the one main salesperson can drive tons of revenue and you could just push that boulder uphill for the first 5 million or the first five miles, but in order to then nobody can sprint for 26 miles.   

Josh: Nobody can sprint for 26 million, but you can sprint the five miles. You can sprint the 5 million and then after 5 million, Kevin O’Leary, when I was talking to him, he’s like, you know, I’ve never seen a company get beyond 5 million where the CEO at that point wasn’t able to successfully pivot and get away from the sprint and getting into successful management, hiring people that could then backfill and do what the CEO was doing. Creating standard operating procedures, hiring the right people, giving them marching orders, giving them goals, and then giving them the room, the time and the slack to be able to actually do their job.   

Josh: Right. Many of us are like, I gave you a goal on Monday and it’s Tuesday afternoon. Why isn’t that done yet? As opposed to like here, here’s 90 days, we agree on a goal, we agree on something you’re going to get done and give them the 90 days to get that done. Make it happen. Check back in every quarter. And so sprint phase is very important, right? The first 5 million, the first five miles. But then the businesses that really grow and last for a long time, they typically have that CEO or that partnership team at the top that are successfully able to kind of let go of the reins and let the team take over from there. And you know, the CEO’s job is looking at blind spots like you guys talked about earlier, things that are wrong in the business, things that need to be fixed.  

Josh: So let’s move on to step number three. Step number three of your sort of trilogy that you help clients with is then investing. Investing in real estate. It could be their number one priority could be their business or it could be that they have another business and they invest the profits in real estate. So why do, why do people invest just passively, from your perspective, you deal with hundreds of investors all the time. What’s the number one attraction to investing in cashflowing passive real estate?   

Paul: Yeah, I think it’s always a lifestyle thing, right? A lot of folks don’t fall into what they love to do day to day, so they’re trying to figure out a way to get there. Passive real estate investing is a way to do it. So it’s also exciting in that people, you know, I think one, it’s an easy way to kind of go about a venture on your own. You know, like starting something where you got to hire employees or sell a widget or do whatever. Like there is a lot involved in that, but you can be a business owner like right out of the gate if you can come up with a little capital. So I think that’s another big draw for people is, look, I’m an engineer. I’m obviously not going to build this giant airplane myself.  

Paul: We’re super busy. This business can only make tanks, but I can buy a three unit in Lakewood and kind of have my own little, you know, a fiefdom and be my own boss for that sort of thing. And then someday maybe I’ll go well enough that I can tell my boss to go pound salt. And you know, cause everybody wants to do that, right? I mean, nobody wants to have a boss, but it’s just some easier for some folks to go after it. And real estate is a I think, an excellent way to, to kind of get that ball rolling.    

Josh: No doubt, no doubt. Tax advantages, passive cashflow, equity appreciation.  

Paul: Yeah. Real estate is has been a very successful way to spend time United States and ever. I mean, and across for the centuries. People that invest in real estate have done really well. So you know, usually real estate folks are the wealthy ones and they’re also the ones that will write the taxes. The tax code is written for entrepreneurs. But I’m also, especially for real estate entrepreneurs, so all sorts of tax advantages I don’t even try to come across like a tax professional for how many advantages there are out there. But I’ve been around long enough to know that there are a billion and they’re always adding on. So it’s a great way to, it’s a great way to invest your money.   

Josh: Fantastic. Well, I know you guys can help my audience, our listeners, whether they have an econ business or a business selling, whatever the widget is or full time investing in real estate, part timing, investing in real estate. I know you guys can help our audience achieve their goals. If somebody wanted to reach out and touch base with you guys, hire you, consult with you, advise, get some ideas about what to do with their company or how to grow their portfolio. How can our audience reach you?   

Paul: Yeah. So check us out at VincentEsquire.com. Or find us on Facebook all the time. Reach out that way. Reach out on LinkedIn. Just our name’s Paul and Vincent. It’s just the, you know, internet is remarkable and that you can contact anybody, right? I mean, I was reading a book, a guy and his name Brian Chavis, he’s down in Orleans down in Tampa. He’s a good property manager. And I was reading his book on my way on my drive down to Orlando about a year ago and this guy’s book is legit, seems like a great guy. And I spoke to him and then Adam and I were hanging out with him about six days later in Tampa. Like, it’s the internet has knocked out all sorts of barriers. So I don’t know how I got to that point, but anyway, that’s a good way…  

Adam: Don’t forget to reach out to a stranger.  

Paul: Reach out to these strangers right here.  

Josh: What you were saying was it’s that easy to reach out to you guys to get some business.  Maybe that’s what you’re saying.   

Paul: There you go, we got there, we got there. That’s right.  

Josh: That is awesome. Well, Paul and Adam, listen, thanks a lot and appreciate all your  insight, all your ideas and advice here on Accelerated Investor.   

Paul: Yeah, buddy, thanks so much.  

Adam: Thanks for having us Josh.

You’ve been listening to Josh Cantwell and the Accelerated Investor Podcast. Leave a comment on our iTunes channel and let us know what you want to learn  next, or who you’d like Josh to interview. While you’re there, give us some five star rating and make sure to subscribe so you can be the first to hear new episodes. Follow Josh Cantwell and his companies, the Strategic Real Estate Coach and Freeland Ventures on all social media platforms now and stay up to date on new training and investment opportunities to start your journey toward the lifestyle you’ve always dreamed of. Apply for coaching at JoshCantwellCoaching.com. 

Successful business people don’t think they’re the smartest person in the room. They recognize their shortcomings, and build a great team around themselves. I’ve always found that when someone is partnering with a lawyer, it’s going to be less costly partnering with them before you actually need it. A little bit of preparation and planning on your part will help you avoid costly mistakes later.

Paul and Adam Vincent from Vincent Esquire are lawyers from Ohio, and they help entrepreneurs structure businesses that really work for them. They use a business trilogy with their clients by helping them start a business, scale a business, and then typically investing those profits in real estate.

Paul and Adam work with beginning business owners to structure their businesses using solid employee handbooks and legal agreements that take into account the possible dissolution of the business. They’ve found that a CEO is flexible and curious, no matter the size of his business.

As a CEO, I’ve taken on the role of the leader. My vision is what drives my company forward, and I let my teammates be the focus of the company. It’s a lot like a great football team where the coach gives all of the players the credit for winning. He coached them, he showed them where their greatness could lie, but the teammates work is what secured the victory. This type of leadership, Paul and Adam say, is the key to moving from building a business to scaling up a business.

Paul and Adam discuss some of the key points in moving a business from its first million to its first $5 million. The entrepreneur who has an exit plan is in an entirely different class than the entrepreneur who never plans on letting go of his business. Partnering with a great lawyer can help you plan your business holistically, with an eye on future success.

What’s Inside:

  • What it takes to be a successful entrepreneur.
  • What to look for when you hire a real estate lawyer.
  • How to structure a business so that you can step away someday.
  • What a holistic real estate lawyer focuses on.
  • Common traits of successful CEOs.

Mentioned in this episode​

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