112: Becoming a Millionaire Mortgage Professional with Albert Preciado

On this episode of Build Your Network, Host Travis Chappell interviews Albert Preciado, multi-family unit investment coach via his business, the Mortgage Guys, host of Driven in September 2018.

Here’s what Travis and Albert discuss in this episode:

  • About Albert Preciado
    • Started off as a mortgage lender at 2008 and came through the recession.
    • Excited about growing his business, The Mortgage Guys.
    • The Driven Conference has grown for 2018 with more speakers.
      • Driven is a one-day event.
      • He got people who he knew have a method that works to come speak.
    • Walk us through your mentality when you started The Mortgage Guys
      • Albert got into the business in 2005 working for another broker.
      • He started killing it right away in the sub-prime market.
        • It worked for about a year and a half, then it got shaky in 2007.
          • His company went out of business
          • Everyone got out of the industry.
        • He stuck it out when things went bad.
          • His income went from $200,000 a year to $60,000 a year.
          • He never quit and went from $60k-$80k
          • He studied the fundamentals and went through a few more companies.
        • He founded The Mortgage Guys in 2013
        • What was the mindset you had as you were sleeping through your car when the housing bubble burst?
          • He promised his dad that when he grew up he would become somebody.
          • From the age of 6, he would go help his dad.
          • When he had tough moments, he remembered that he can’t let his dad down.
        • Do you believe that what you know or who you know is more important, and why?
          • A combination of both – you can’t know anything and expect to be successful
          • If someone should double down on one it should be building themselves and their credibility first.
          • The worst thing you can do is to get in front of someone powerful and waste their time.
            • You have to earn their respect.
          • He’s always been a personal development guy.
        • When you were in high school, did people tell you that college was necessary to make money?
          • When he was going through school his family and friends told him he needed to go to college.
            • He was always being told when people graduated, but he knew he was working on a bigger mission.
            • 1st grade-12th grade he was made fun of and humiliated and put in special ed.
              • He couldn’t understand English, they thought he wasn’t competent.
              • They transferred him to ESL and was made fun of.
            • How did being made fun of play into your success?
              • It had a big part in success.
            • Albert has a big vision and goal but misses a lot of small details.
              • One of the keys to his success, in the beginning, was focusing on systems and people’s strengths and weaknesses.
            • Albert went to Grant Cardone’s seminar and he said “build your army and you’ll make over $300k”
            • Albert saw Patrick Bet-David’s viral video, so he started studying him and wanted to meet him.
              • He believes in having very few mentors.
              • His mentors a few years back were Grant and Patrick.
                • Grant is into building and sales.
                • Patrick is into systems and procedures.
              • He connected with Patrick on Instagram and had the followers and content that earned him the right to meet him.
            • People don’t reach out enough to people they want to meet.
            • What’s been the number one surprise in the event space?
              • There are a lot and you have to commit and ride it out.
              • The AV Audio and Video teams you have to get.
              • All of the insurance you have to get.
              • The cost – $300,000 a day just to have an event.
                • This depends on what you want to put out.
                • They want to represent excellence which takes a lot of detail and money.

The Random Round:

      • What profession other than your own do you think it would be fun to attempt?
        • Professional basketball player
      • If you could sit on a park bench with anyone for an hour who would it be, and why?
        • Bob Duggan
        • One of the smartest people he’s met
      • How do you like to consume content best, books, blogs, podcasts, or videos?
        • Books
      • What is a book you’ve read that you’d highly recommend?
        • Principles by Ray Dalio
      • Give us a glimpse of your morning routine
        • Wake up from 1:30-5am
        • Read for a couple of hours
        • Workout
      • What is your go-to pump up song?
      • What are you not very good at?
        • Small details
      • What is one place where we can find you online?
        • com
        • @thealbertpreciado on Instagram and Facebook

Tweetable Quotes:

  • Adversity is where we learn life’s greatest lessons.
  • I’m always open to get better.
  • Whatever goals you’re working on are what you should seek mentorship on.

Resources Mentioned:

Buildyournetwork.com– Podcast website

BYN.media/fb – Facebook Group

Albertpreciado.com – Albert’s website

Drivenevent.com – Buy tickets for Driven

Principles – book by Ray Dalio

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