Today’s REI Classroom Lesson

Pete Asmus talks to us today about how success is created from failure. In most cases, it takes multiple attempts to do something right. Some people call this an attempt or practice, but they’re failures that are leading to success.

REI Classroom Summary

After doing something wrong, it’s important to learn from it and do better the next time. Success takes time.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to the REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert coach. Pete: Hey, guys. This is Pete Asmus, The Turnkey Investor. I am today’s host on the REI Classroom. Now, don’t go anywhere. We’re going to be talking all about “Failure is the Path to Success.” I know it sounds weird, but watch. You’ll understand. Mike: This REI Classroom real estate lesson is sponsored FlipNerd Investor Coaching, your blueprint to investing success.
Pete: All right. Here we go. I know what I said in the beginning was crazy, right? Failure is a path to success. Like what are you talking about? How can, if I fail, how is that going to be a path to success? Well, let me tell you. I love this, if you’ve ever listened to Tony Robbins, it totally is I’m going to be completely biting his style right now. But how many of you have kids? I mean, what’s the time length that we give them to walk. How long do you give them to walk before you’re like, “All right. Forget it. You’re never going to walk. I’m giving up on you”? I don’t really know of anybody. Why? Well, because we know everybody can walk, so we know eventually they’re going to get it. So what do we do when they fail? Do we go, “Oh, you’re so dumb. How come you can’t stand up straight and walk? What is wrong with you?” No, we keep helping. Their failures, when they fall to the left side, or fall to the right, they start learning what they’d have to do to compensate in order to prevent that failure, that fall, whatever that is.
That whole entire experience of learning to walk relates to everything in your life. Everything. It’s just we forget that path. We forget the fact that failure actually leads to success. We forget the fact that, if I want to build a box, and I don’t know how to build a box, and I get all these different types of materials, I’m going to start putting them together and go oh, that didn’t work.
Do I sit there and go, “Oh my god, I’m a failure. I can’t even believe this,” and I turn around and start crying and give up? No, we go, “Okay. Well, that didn’t work. Hold on. I’m going to readjust this and I’m going to try some other things.” Why is it that we’re okay with trying certain things multiple times and we don’t look at that as failure, we look at that as attempts? We look at that as a try.
If we want to jump, like in a long jump, or in a hurdle, or in a high jump, when they’re practicing, they call it practicing, what happens in practices? They fail like in almost all the time when you practice something. You practice it so that you can learn how to do it so that you can do it effectively.
You go to the X Games, you go to motorcycle riding, you go to all the tricks and skateboards and any of that. They practice and they fail over and over and over and over and over. In fact, they fail most of the time in the competitions, too. But they don’t give up and they don’t stop. The reason that they actually succeed is because they’re willing to fail more than you are. Honestly, the reason that everybody around you that you look at and admire and is in a position that you want to be in is only there because they were willing to fail more than you. They were willing to get out on their own. It cracks me up because I know a lot of times people think, “Well, hey, man, I’m willing to fail. What are you talking about? I’ll fail. I’m all up for failing.” Then all of a sudden they lose like five grand and they’re like, “Oh, I can’t do that.” Like, hold on, hold on. Nobody said anything about losing money. But losing money sometimes is a failure, isn’t it? I mean, all of these things lead to where we want to go. The problem is everything that is worth anything has a cost. It has a cost. The cost may be money. The cost may be time. The cost may be effort. The cost may be experience. Who knows what that cost is, but everything has a cost.
The question is, “Are you willing to pay the cost to get where you want?” Are you willing to go through sometimes humiliation? I mean, man, I remember for years telling people I was going to be a millionaire in real estate, and them just looking at me like I was on crack. I mean, it was like, “Hold on, man. You don’t have anything. Like what are you talking about? You don’t know anything about real estate, you don’t have any connections in real estate. You’re 27 years old.” It was crazy. I had no clue at all. I was in the Navy. I wasn’t in the Navy at that point. I was a bartender, I think, at that point. But it was where I knew I would go, right?
Even though it took another, let’s just call it, 10 years to get there, the reality is by moving and all the different things I did in my life, they set me up to be the person that I am today. They created the infrastructure within me, where I love to do marketing, I love to talk. But all the things that I love to do that I became really adept at over the years in different facets, they all came together with me doing the marketing and the way that I secure money and connect investors with deals.
All of those things that I do in the way that I market using videos and all of that stuff, that all came from my love of the different things that I did in the past from acting and being on stage and doing little movies and stuff like that. I just loved it and I wanted to create that kind of environment where if I was going to work I wanted to have fun.
I know that’s a really like weird concept for a lot of people, “Well, work is supposed to be work.” Hell, no, work is not supposed to be work. Work is supposed to be fun. Work is only work when you suck at what you do and you don’t like it and you hate it. If you really want to have fun, I can have fun doing numbers. Now that’s really weird because I typically don’t ever have fun doing numbers. But when I’m making money, I don’t know, it just becomes really fun starting to do the adding and subtracting. You’re like, “Oh, look at my money grow.”
If you find a way to see the fun in things, you’ve got to look sometimes. It’s not easy. But look. Find it. Find what you love about that and what will make it fun. Create that experience and you’ll do it right every time. It’s all about creating that lifestyle that you want. Now, I’m going to be talking in another video about my family and how I created my whole entire life around my family. I did that from an experience when my son had brain cancer, and I realized that I didn’t like the way that my life was going and I had to make a change.
Now, because of that change it’s taken me a little longer to get where I wanted to go, but that’s where it came down to focus. It came down to, “What was I willing to give up to get what I wanted to get?” There were certain things. I wasn’t going to trade money for time with my family. So because of that it obviously shaped that event. Not event. It shaped that timeline. See what I mean about not getting it right all the time? You’ve got to be human.
But it shaped that timeline to be longer, but it was so much, this isn’t a real word, but it’s so much more worth it. As bad and grammatically incorrect as that is, the experience to have my family there was what this was all about. So for me, I needed to create that path. We’re going to be talking about that next time.
Now, again, check out down below the author box if you want to know anything more about me. Check me out. Do anything else. I dance. I do all kinds of really cool stuff. It’s funny. But besides that I’ll see you on the next one when we talk all about family, all right? Guys, thank you so much and have a great day. As always, go make something happen. Bye, guys. Mike: The FlipNerd Investing Coaching Program is America’s most robust real estate investor training and designed for your success. If you’re ready to roll up your sleeves, ready to take personal responsibility for your own success, and ready to dive into a world-class instructional coaching program that provides you step-by-step instruction to help you achieve financial freedom, then you need to visit to learn more. Spaces are limited. Whether your goal is to simply get started or to take your business to the next level, you may be a fit for our life-changing program. Learn more today at Please note, the views and opinions expressed by the individuals in this program do not necessarily reflect those of or any of its partners, advertisers, or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
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