153: Cole Hatter | Attend Thrive: Make Money Matter

On this episode of Build Your Network, Host Travis Chappell interviews Cole Hatter who is the first guest that has appeared more than once. Cole Hatter is an award-winning speaker, successful real estate investor, and Thrive: Make Money Matter.

Here’s what Travis discuss in this episode:

  • About Cole Hatter○ Cole Hatter bought a new “dream houses” for himself and his wife.○ His real estate business is getting deeper on the commercial side.

    ○ Started real state in 2005, pushing for passive income, then got into active income side.

    ○He is in business with his Dad.

    ○Looks for apartment buildings with as few as 30 unites and as many as 90—typically 50 units.

    ○His goal is to hit a total of 500 units

    ○90% of his income is transactional.

    • Getting started in real estate

    ○ The common denominator with super wealthy people is real estate.

    ○ Buying and flipping property on the active income side can happen with hard money lenders which are

    investor-friendly without credit score concerns.

    ○ When there is at least 20% margin on a sale, lenders will be more likely to participate.

    ○ Joint venture partnership is how Cole got started—he did all the work while the investor put the money

    ○ Now they pay back the money and pay a 9% interest rate for the length of the loan.

    ○ The common denominator with super wealthy people is real estate.

    • Preparing for the recession

    ○ 2/3 of people in his mastermind: their current business was post-recession.

    ○ Look at the mistakes of those ahead of you.

    ○ Pre-recession entrepreneurs can teach you how to prepare for it.

    ○ Our economy is cyclical and has to correct itself.

    ○ Look for reliable revenue streams to prepare for a recession.

    ○ Is your product needed in a recession?

    ○ The velocity of money is when money changes hands faster in a recession.

    ○ Watch your spending.

    • The importance of diversify your investment

    ○ Force value in your properties that you bought low.

    ○ What if a company CEO of your stock gets negative press?

    ○ Use Warren Buffet’s strategy of “buy and hold” over day trading.

    ○ Tony Robbins’s book “Unshakable” and Ray Dalio’s book “Principle” are good to learn about stock trading.

    • Why Thrive was created

    ○ He started real estate in 2005 and lost it all in 2008.

    ○ Cole once owned an orphanage in Mexico.

    ○ He built a give aspect to raise money for causes with his businesses.

    ○ He has been 3 and a half years into Thrive, teaching entrepreneurs how to make a difference with their business.

    ○ Everybody has a for-purpose aspect.

    ○ Thrive has been his reason for social media.

    • You get better with effort

    ○ Build Your Network podcast has been three episodes a week for a year.

    ○ Consistency, context, and quality are the keys for improvement.

    ○ Authenticity is importance: it is easier to be yourself.

The Random Round:

  • What profession other than your own do you think it would be fun to attempt?

○ Professional stuntman.

  • If you could sit on a park bench with someone, past or present, who would it be and why?

○ Cole’s grandfather.

  • How do you like to consume content? Books? Audio Books? Blogs? Podcasts? Videos?

○ Audio.

  • Give us a glimpse of your morning routine?

○ Family time and taking his kids to school.

  • What is your go-to pump up song?

○ Post Malone.

  • What is something that you are just not very good at?

○ Paying attention.

  • What is one place online where we will find you the most?

Instagram.com/ColeHatter and AttendThrive.com

Tweetable Quotes:

  • “A lot of my money right now is transactional, not just in my real estate business, which is fix and flip. But,
  • “It’s kind of funny, we found this (purchased house) on Instagram. So for those of you that are social media people out there, you can literally sell houses on Instagram.” – Cole Hatter. Thrive happens once a year. Boom. Income.” – Cole Hatter.
  • “Owning real estate is so important. Not just on the passive income standpoint, but from a cash-producing asset.” – Cole Hatter.

Resources Mentioned:

BuildYourNetwork.co – Website for Build Your Network

Build Your Network – Facebook Group for Build Your Network

Thrive:Make Money Matter – Website for Thrive: Make Money Matter

Instagram – Instagram for Cole Hatter

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