From Broke to Multi-Millionaire Real Estate Investor, John McSherry’s Tips on Personal Investment and Wealth Accumulation.
The Millionaire Car Salesman Presents:Tips on Personal Investment and Wealth Accumulation
Would you like to have multiple streams of income? Do you have a strategy to create passive income? Through a proper personal investment strategy, you can create passive income and work towards a greater wealth accumulation.
Last Week’s Episode of the Millionaire Car Salesman Podcast, How to Engage & Sell More Used Car Leads, kicked off Season 4. While selling more used cars will increase your income, it should not be your only source of income. With the correct personal investment strategy, this additional income can be used for your own wealth accumulation.
This week, Sean V. Bradley, CSP and L.A. Williams talk with John McSherry. John was a broke graphic designer that had hit rock bottom. Despite this, he came to the realization that he was not ok living a mediocre life. He used that as his fire and motivation to make a change. With the proper personal investment and development plan, he went from being broke to a Multi-Millionaire. Like 90% of millionaires, John invested in real estate for wealth accumulation.
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About John McSherry:
John McSherry is a real estate investor in New York; however, John was not always in real estate. In fact, John was broke and homeless at one point of his life. This is when he decided he was not ok living a mediocre life. John used this as his motivation to finish college and start a career as a graphic designer. Along the way, John fell in love with real estate and go involved in real estate investments.
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3 Key Personal Investment and Wealth Accumulation Takeaways
You Have To Find Your Fire
“Looking back at it now, my bottom was the greatest gift, the greatest blessing that has ever happened to me. Even though it was the hardest and most difficult time that I have ever experienced.” John would have been ok living a mediocre life. However, if he didn’t hit rock bottom, he would have never had the drive he does today. “If you are going through something right now. Use that as the fire. Use that as your motivator."
Personal Investment
The real estate and automotive sales industries are like having your own business. You can “be your own boss” and there is no ceiling to how much money you can make. However, there is also no floor. While there is some training provided in both auto sales and real estate, there can be a lack of individual support. Because of this, it is important to invest in yourself. Hiring a coach is one way to take yourself to the next level. While that is a good place to start, another way is to invest in yourself is through training.
Wealth Accumulation
Sean V Bradley, CSP has a 3 bucket philosophy. The first bucket is to invest in yourself for education. This can be in education, training, personal development, or professional development. Next is to invest in your business. You need to grow your business but also focus on client retention. Lastly, once you stabilize yourself and you stabilize your business, is the accumulation of your wealth and portfolio.
Show Notes: Tips on Personal Investment and Wealth Accumulation
[02:56] – John started his career as a graphic designer, but along the way, he found his passion in real estate. Following this passion, he became a real estate investor. As a result, he was able to create long term wealth and passive income.
[03:49] – John had a challenging childhood. In addition to a father with a gambling problem, John ended up being homeless. Then, John almost got kicked out of college after his father passed. Luckily, John completed his college courses and became a graphic designer.
[06:34] – In order to get out of the “victim” mentality, John dug deep to dig out of being at rock bottom. He completely humbled and reinvented his entire way of thinking. Furthermore, he found an appreciation and love in all people.
[08:39] – For John, there was no “moment” or epiphany that led to his turnaround. It was a culmination of everything. Coming on gradually, he got sick and tired of the grind and realized it was time for change.
[12:11] - A timeout to thank one of our sponsors, CarNow!
Simplifying the car shopping experience, CarNow partners with their clients to provide in store service and training. This personal investment in their dealers aids their wealth accumulation.
[12:55] – “Looking back at it now, my bottom was the greatest gift, the greatest blessing that has ever happened to me. Even though it was the hardest and most difficult time that I have ever experienced.” John would have been ok living a mediocre life. However, if he didn’t hit rock bottom, he would have never had the drive he does today. “If you are going through something right now. Use that as the fire. Use that as your motivator.”
[19:11] – The up bus is not coming! With this in mind, car salesmen need to build their business through outbound prospecting.
[24:21] - A timeout to thank one of our sponsors, Dealer eProcess!
Dealer eProcess offers a wide range of products and services to help your dealership sell more cars.
[24:42] – The real estate and automotive sales industries are like having your own business. You can “be your own boss” and there is no ceiling to how much money you can make. However, there is also no floor. While there is some training provided in both auto sales and real estate, there can be a lack of individual support. Because of this, it is important to invest in yourself. Hiring a coach is one way to take yourself to the next level. While that is a good place to start, another way is to invest in yourself is through training.
[25:49] – There are many ways to start building your book of business. For example, you can create a YouTube channel. Creating content and properly optimizing informative videos for your clients will build tremendous value. Then, you can use this content on social media to further market yourself.
[28:48] – If you reside in a region that allows birddogs and referral fees, you need to take advantage of this. You have to build a network of raving fans! Real estate agents are one of the best referral channels to create. Not only do real estate agents work with many different people, but they can also create a reciprocal referral relationship.
[33:29] – Implementing healthy habits is the key to being successful in any business. For John, he reads two books: The Five Second Rule and The Miracle Morning.
[34:34] – Automotive sales is commission based and it is important to be fiscally responsible. John recommends splitting your money into three separate buckets. First, if your pay structure does not have taxes taken out, you need to have a tax bucket. Second, you must reinvest in your business. Lastly, you need to have a personal use and personal investment bucket.
[36:08] - A timeout to thank one of our sponsors, VinCue!
With all of the tools you need, VinCue will help you acquire vehicles at a lower cost.
[36:38] – Sean V Bradley, CSP has a similar 3 bucket philosophy. First is the personal investment bucket. Next is to invest in your business. Finally, once you stabilize yourself and you stabilize your business, is the accumulation of your wealth and portfolio.
[40:20] – Being partnered with Grant Cardone, Sean V Bradley has learned a lot about the real estate market. Grant acquires a plethora of wealth through real estate. In fact, 90% of all millionaires in the US invest in real estate. Simply put, real estate investing is key to accumulating wealth.
[48:03] - A timeout to thank one of our sponsors, AutoWeb!
AutoWeb’s full suite of marketing services, website traffic, and auto sales leads will propel your business to the next level.
[49:29] – You do not need to be a full time real estate investor. To clarify, you can work full time as an automotive sales associate and still invest in real estate. In fact, John McSherry started in real estate part time. He shares a few tips on how to manage both.
[59:40] – In closing, John gives some advice on how to become successful. “Talk to everybody and tell them what you do.” Additionally, be passionate about what you are doing, do whatever it takes, and be obsessed about it.
More About the Millionaire Car Salesman Podcast's Hosts & Guests
Personal Investment and Wealth Accumulation Resources
Dealer Synergy: The Automotive Industry’s #1 Training, Consulting, & Accountability Firm
Bradley On Demand: The #1 Automotive Sales, BDC, CRM & Management Training System
Millionaire Car Salesman Facebook Group: The #1 Automotive Sales Industry Community On Facebook
Millionaire Car Salesman Podcast: The #1 Resource for Automotive Sales Professionals, Managers, and Owners
The Against All Odds Radio Show: The Against All Odds Radio Show focuses on money, success, wealth, prosperity, marriage, parenthood, work life balance, happiness, and so much more with guests that have started from the bottom, and against all odds, rose to the top.
Against All Odds Radio Show Guests & Listeners Facebook Group: The Against All Odds Radio Show Facebook Group is for listeners and guests of the hit national broadcast radio show.
Clubhouse: The Automotive Industry Is All Over Clubhouse, Are You?
Millionaire Car Salesman Club: The Millionaire Car Salesman is now on Clubhouse
Win the Game of Googleopoly: Unlocking the Secret Strategy of Search Engines by Sean V. Bradley: Rank higher in search results with this guide to SEO and content building supremacy
The Five Second Rule: Transform your Life, Work, and Confidence with Everyday Courage.
The Miracle Morning: The 6 Habits That Will Transform Your Life Before 8AM.
The Millionaire Car Salesman Podcast is Proudly Sponsored By:
VinCue: Built by dealers for dealers, visit VinCue.com today to learn how their All-In-One Digital Platform can help your Dealership!
AutoWeb: Visit AutoWeb.com/dealers for help in revolutionizing your business to help you sell more cars.
Dealer eProcess: Specializing in responsive websites, DealereProcess.com is the auto industry’s leading custom website provider.
CarNow: Sell more cars now by visiting CarNow.com. The market leader in tailored digital solutions built to help dealers sell more cars.
Be Sure to Listen to Last Week's Episode of the Millionaire Car Salesman Podcast
Also, Tune in Every Tuesday at 4:00 PM EST!
Last Week, The Millionaire Car Salesman Podcast focused on used cars. How to Engage & Sell More Used Car Leads kicked off Season 4 with a bang. At this time, the used car market more important than it has ever been. As a result, a panel of used car experts was created. The panel dove deep into the used car market to help dealers and sales associates sell more used cars.
The Millionaire Car Salesman Podcast has a new episode every Tuesday at 4:00 PM EST. Be sure to tune in next week. Also, check out all of the previous episodes of the Millionaire Car Salesman Podcast.
Likewise, join The Millionaire Car Salesman Facebook Group and The Millionaire Car Salesman Club on Clubhouse today!
Additionally, The Against All Odds Radio Show broadcasts nationwide each weekend and has a podcast released each Monday. Listen in to get tips for success from billionaires and multi-millionaires.