The path to generational wealth through passive investing in impact driven real estate projects. Welcome to another episode on Elevate Your Equity podcast with Prashant Kumar. Join us as he share how he shifted into raising capital and how he underwrites. He also highlighted:
• What did he have to consider when you started pairing down his focus to busy professionals.
• His meditation practice, how does that tie into who he is as a person and as an investor
More about Prashant, he's the owner of MyRealtyGains. Prashant's passion is to Assist Ultra Busy Professionals to Identify Grade 'A' investment opportunities and to provide stable cash flow returns and long-term capital appreciation by buying those assets.
Prashant has acquired and managed over $32M in real estate. Prashant has appeared in 100s of Podcasts with various hosts. He runs his webinars and meetups. He writes blogs on Real Estate Investing and Speaks on this subject across the country.
Connect with Prashant on MyRealtyGains.com and search him on LinkedIn.
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Welcome to the Elevate Your Equity podcast where we, as married busy professionals, leverage real estate investing to unlock the three plus one degrees of freedom, health, location, time and financial.Derek Clifford:
And today, we've got a treat we got Mr. Prashant Kumar on the line with us. How are you, Prashant?Prashant Kumar:
Better good. Thank you so much for inviting me.Derek Clifford:
Absolutely. So for those of you who do not know, Prashant, Prashant is the owner of my Realty gains and for Shawn's passion is to assist ultra busy professionals to identify a great a investment opportunities and provide stable cash flow returns and long term capital appreciation by buying those assets. And Prashant got a lot of experience. He's acquired and managed over $32 million in real estate. And he's appeared in hundreds of podcasts with a bunch of different hosts. He runs his own webinars, meetups writes blogs and real estate investing, and speaks on the subject across the country. And he's a very active investor and connector of people. And he specializes in working with ultra ultra busy professionals because I believe that your one yourself right, Prashant.Prashant Kumar:
That is correct. That was one of the very busy professional myself. And, you know, obviously, I realized that I would not have time to do the investing myself. And I kind of relied on somebody else. But obviously, you know, knowing the benefits of real estate investing, I slowly turn into a real estate professional. And now I do it full time. And I help others also too, you know, not asking to asking them to quit their job like I did. But obviously I'm I'm helping others to, to gain the benefits of passive investing. That's my goal.Derek Clifford:
Perfect, I love it. And I think that you're taking the same work ethic that you had when you were an ultra busy professional and bringing it into the real estate space, helping to educate people, connect people and just basically add value all around. So let's jump in. Usually, before we get into the heavy meat of things, I want to learn a little bit more give the audience a little bit more of a background of who Prashant is as an individual. So why don't you talk to us real quick about, you know, what your background is where you came from. And then, you know, you talked a little bit about how you got into real estate, but I want to find out about where that spark was, like where you found real estate investing at the beginning, you're like, Ah, this is the thing for me.Prashant Kumar:
See, as a kid growing while I was growing up back in India, you know, I remember that, you know, I used to follow my dad and my grandparents, grandfather to banks, and as to do a lot of transactional transactions myself in the bank back in the day, it was all paper driven, right? I mean, you fill up the sheet and everything, deposit money and, and I used to be involved in some business transactions, also helping them out as a as an assistant. That was my sort of my start of my career actually. You know, that's what ingrained in me. I mean, long story short, I went to a very good school in India. Now, one of the top tier Institute's came here in 98. In United States, and ever since I worked in all these big corporations, you know, very, very busy lifestyle, traveling, you know, being on the plane almost every week. But I never had time to do anything. I mean, to me, investing was only stocks and bonds, right? I never had insight how do I connect with people whom should I trust? You know, how do I invest in real estate? Or I'm in real estate was not even a thing actually, in my mind, because I was working 1215 hours a day, you know, 5060s I mean, there's nothing called 40 hours a week for us. It was like 60 hours or 80 hours, 60 hours was lesser work 80 hours was kind of okay, work. So many are working so much. And but, you know, you get paid for 40 hours. By the way, even if you work for 60 to 80 hours, girls get paid for 40 hours. And I realized man there has to be something you know, and I used to take time off and I would not get paid. And that happens to a lot of lot of people. I mean after they are allotted w two, two weeks or three weeks, they don't have time. Any additional time if they take additional time they don't get paid for that time. I say Man, this sucks. This sucks. So long story short, I I started buying fewer single families. But then you know it is so difficult to you know, to buy those single families you know, three months go by to buy one house. I said man I can buy only like couple of houses in a year. How long would it take to replace my income? I said I'm gonna buy a multifamily commercial asset I did that. And commercial asset buying was so easy. I mean, at that time, obviously, you know, maybe the transaction was good, maybe the bank was good. I bought that transaction in 18 days, from student X 18 days, I remember that I went, saw the property on December, maybe 10, or 11, then I was done by 29th, December 29. Because bank wanted to close it, and they boom, they closed the deal. And I said, Man, this is easy. All that took a long time. 18 days were a lot of paperwork and everything. But it was done in 18 days, and I'm enjoying, you know, two $3,000 cash flow from that asset. You know, but like everything else, your powder dries up, right? I mean, how much can you buy yourself? I bought a 72 unit also after that, but after that, man, I said, I cannot do it anymore. I have to go into syndication. educate myself. And I that's what I did, like everybody else, I started going to all these boot camps, left and right, I learned a lot about syndication. And then slowly, I started realizing that there are a lot of lot of people, you know, in tech space, in tech space, or doctors, lawyers, attorneys, they do not have time, like I never had time. So why shouldn't I try to help them? You know, so I tried to, you know, slowly, you know, one thing led to another, and now I'm full time trying to help others. Obviously, the kind of returns that are coming out, probably are more than what any Ultra Dizzy professional, including me could generate myself, because the assets that we invest in, they are supposed to give us at least 15 IRR, which could mean that it could be your money could double in about five years. Can I double my money in five years in stocks? Maybe yes, I can. But But can I lose my money in stocks? Yes, definitely can happen. Right? You know that what happened three, four weeks ago, the market portfolio dammed and people lost 3040 50% of their money. So I wanted to invest into something tangible, right? Tangible, which I can which stays there, even if I'm not there, right. So my house can will always be there unless somebody demolishes it. So the real estate seems like it, you know, like a natural choice. Number one is, you know, as a food and shelter is the basic necessity, everybody will need the shelter, right is a fundamental aspect of human necessity. Stocks and bonds are not. So that's what I kind of say that jump into something, which is a fundamental need, can I go into food, maybe I can go into food also. But there's, you know, I am not, you know, a food related person. So it was easier for me to transition into real estate. And that's what I did.Derek Clifford:
That's awesome, really great, great story. It sounds like there's a couple of things here that I really want to focus on. And then we'll move on here. To me, and for a lot of people out there, you realized a lot quicker. Maybe it's because you didn't have the time while you were trying. You're buying these properties out of your own pocket while working a full time job. Right? At first a what was it a 16? Unit? Or? Yeah.Prashant Kumar:
Yeah. It was 24 units.Derek Clifford:
24 the first one. And so you know, you said that you bought a few single families. For me, I like went all the way I bought like 12 single families. And it took me like two years before I realized, oh, wait a minute, I need to start thinking about scale. Can you talk to us a little bit about how that realization for scale came? I think you touched on it. But why did you realize that? Like it was not sustainable to keep going down that path?Prashant Kumar:
Yes, that is an absolutely absolute point that I realized very early in the game. I started buying distressed assets, you know, short sales, they would take like four months, you know, your freaking $100,000 home, or $80,000 home, which I could buy with my eyes closed with my own money. Obviously, we didn't I didn't want to do it. It took me four months. And I was like, and there were like multiple of them going on a lot of paperwork. And they were asking my bank statements, and where did you spend these $100 where this $100 came from? It's a man What is this nonsense, you know, when getting I mean, my I earn enough. They know that I can support it, but they you know, they that's how banks underwriters do right? They, they ask all the questions. And I said and I had like 40 documents which I had sent them to get $100,000 loan As a man, this is not working out for me, I cannot sustain this. I cannot buy three home three homes I bought in maybe about seven months time. And when when all said and done, I would have been making only 100 $200 per home mermen as a non cash flow on cash flow. I said no, it's not going to work out for me. It's not worth my time. So, so I started, obviously, I started learning about multifamily. And I said, let me try this multifamily. And numbers are making sense. Yes, my investment is a little bit larger on $100,000. Home, my investment was maybe 20 or 30,000 with a million dollar property. million dollar at that time my investment is maybe 200,000. But I to see how much can I make as a cash flow? And it turned out that I could make easily easily $36,000 a year on that. I said 36,000 is 18% return on my money. Yeah. Right $200,000 downpayment and as a boom, I'm done. I'm sold. You know, it doesn't happen with everybody. I was fortunate that a friend of mine is a wholesaler. I got in touch with him. And he sold me that property. He held my hand for 18 days. He was on phone with me all the time. Obviously, you wanted to get paid also. I mean, I said no, I'm not going back again. And the good thing I liked about the property bank that asked for my bank statements, my PFS and SRU, right schedule of real estate owned. And it took me really only about half an hour to produce all that. Yeah, that was my only interaction with the bank, banks, underwriter, nothing else. And as a main, this is cool. This is cool stuff, you know, half an hour worth of paper, obviously, you know, you had to deal with insurance and stuff like that. But my underwriter underwriting was so small bank just gave me the loan 18 days soup to nuts, I was all set.Derek Clifford:
Yeah, that's all that's awesome. This is a great realization for people out there who are maybe getting started thinking about, you know, going into real estate, I think that, you know, doing single families to figure out how the dynamics work, like, you know, what cash flow is, you know, how to find a property manager, starting on your own in a small portfolio, if you want to be hands on is really smart, but I love how quickly you shifted, and you're like, wait a minute, I'm filling out stacks of paperwork for one house, you know, or one tax lien or you know, a deed, you know, a certain type of, you know, an investment, right. And so you're filling out these tons and tons of paperwork for this, when that same piece of paperwork can be maybe a little bit thicker, maybe 10 to 20%, thicker, and you have like four times the units or 20 times the units or 30 times the units right for the same thing. So I love that you were able to realize that real quick. And I think that's that's an awesome thing. And I really hope that the audience is listening to that. Economies of scale thing.Prashant Kumar:
You know, I'll do it again, if I have to do it. And I continue to do it after that, you know, it was just so wonderful.Derek Clifford:
Sure, absolutely. So looking back, right. Let's say that right now your niche is working with very busy professionals. And I think the reason for that is because you've been there you were one of those people, and I have a feeling you continue to be But what advice do you have for people that maybe we're going to walk down the path that you're going to walk down? Is there anything that you would recommend to them at this point?Prashant Kumar:
See, I would say that if I had to start in real estate, I want to start at a much early age. When you come out of the college, you know, a couple of years you don't even realize about saving, things like that. I think that is the right time for one to start saving, and start investing in real estate. Little bit by little bit. Rather than going into 100 different directions. Start saving at at an early age. Start learning about the fundamentals of real estate what it can do for you and do hustle, start hustling at that age, because real estate moves. You know, you can do a lot of things in real estate and even you can double quadruple your income pretty fast. But to have that base takes in a couple of years. I don't suggest that you just jump into real estate and buy 100 unit apartment complex to get there. Start early. Utilize early years of your career to learn about real estate and then if you feel liked Jumping into real estate you're welcome to do so if you have a career path, you are already making a lot of money. And it's not just about money, it's about the time freedom, you know, freedom of time, you do what you want to do in your life, if you still feel that you want to continue to do your job, keep doing it. But keep getting the benefits of real estate, keep compounding your money from day one. And you will realize, by year 10, you would have much more wealth created for you. If you have the ability to save $50,000 In a year, initially, for five years, and then $100,000 For next five years. If you compound all that, by year 10, you would have at least $2 million in your wealth portfolio saved up. So if you ever started working at the age of 2022, by the age of 3032, you'd have to $3 million easily. And now you can see that that tune $2 million could really make you $200,000 per year, easily. If you are an artist, you're investing that money in the real estate.Derek Clifford:
Yeah, absolutely. I think that's super valuable advice. And that's for people, I guess, you know, starting out or for people that are younger in their career, what advice do you have for ultra busy professionals that maybe are looking to do something right now then maybe in their mid 40s? Or they're in the prime of their career, and maybe don't have the time to dedicate and do what you did, which was trying to actively do a business while you're working 6080 hours a week? What advice do you have for them?Prashant Kumar:
See, I said that if you have to go to a destination, all you have to do is change the direction and start going into that direction. It doesn't really matter where you are, right? You are 22 Or you are 32 or 42. Destination is same. Everybody wants to achieve the freedom of time at some point in their lives. Whether they're 42. All you have to do take a U turn and start going in the right direction. And not even saying that you take the U turn complete U turn, I'm saying you keep moving, but start passively investing in real estate. My example of 22 year old was passively investing in real estate from age of 22. Even if you are 42, you can start doing that. Start compounding, you have more money at 42. Obviously, maybe you have a million dollars sitting, which is either sitting in the bank account, bank is making money on your money, by the way, you know that right bank is making six to eight person money bank makes much more actually on your money because the money keeps on rotating in the bank itself. So bank is making money you're on your money. Rather than making the bank's rich, you make yourself rich by putting those that money into right asset classes, which can produce upwards of 12 13% returns. I mean, I'm I venture to say that upwards of 15 to 18% annualized return on your money, year over year, and that too, in a compounded fashion. So if even if you got to 42, you have not lost, you still have course a lot of library.Derek Clifford:
And one thing I would add to that too is that once you do get into the real estate game, it's tax advantaged. So those returns that you're making, that you're that you're coming that you're telling us are not taxed either. If you do it correctly, if you use 1031 exchanges, you know, you're you're working with your accountant, and then if you eventually become a real estate professional, right, that's if later on down down the road. That's when things really start to go crazy, right with the tax advantages. But that's very well said there. Now I want to I want to shift a little bit, I want to make sure that we get into some of the tactics and the things behind the scenes that you're doing. Just so that people that maybe who are looking to walk the same path as you or to partner with you understand your process. And let's talk first about Ultra busy professionals and creating wealth for them. What outreach because, you know, this is a question for me, it's kind of self serving, you've done webinars, meetups, blogs, email campaigns, you have deals going on all the time. What outreach have you found to be the most effective to reach your target audience? Or does it matter? Is it all kind of a tapestry?Prashant Kumar:
I mean, I have yet to find my best solution. Derek, I must tell you, I mean, I have a podcast also and you appeared on my podcast as guests as well. So I have yet to find out the right mechanism. I do a lot of marketing, LinkedIn, I connect with a lot of people. But again, it's all word of mouth. This is more of an organic approach, right? I am spending a lot of time on the marketing but I'm not saying that it's not working out but it is putting my name out there. Right if somebody has to look can meet up, they can look me up, and they can find out what I haven't been doing in real estate. So that kind of creates my resume a, which is open book, I have no preference that one thing has worked over other. But meeting people is the best way. And obviously a recommendation from somebody else that goes a long way. And yeah, that's what it is. I mean, I have no preference right now, I wanted to say that podcast maybe is the way but I still have to see the benefits. But I know a lot of because being from Indian community, I know a lot of Indian friends, I know, maybe three, four or 500 friends who are making this kind of money, their spouses are making a lot of money. So you know, I just spread My Word around and see where it sticks. And let people come to me. I mean, now, we are at a point where a lot of recommendations are coming. People just recommend their friends. Yeah, they made 20% Let me recommend somebody else also to you. So most of it is recommendations. And obviously your track record also, right. So, you know, we have doing some good things, obviously. And people have made a lot of money. So that track record helps. So it's not a fly by night getting rich scheme. It takes a lot of time. But once it starts rolling, it is snowballing. And of course, growth is emanate. As long as you're doing the right thing, you will achieve growth.Derek Clifford:
Yeah, that's great. And I think as well as if people understand you're well intentioned, and they know where you're coming from, I love that idea of like letting the business grow organically. And then having all of your reach and all of your content that's out there be something that people can look at as a reference, because I really liked the SEO approach too, because it's all about getting people into that, that funnel of first they have to know who you are, first they have to see you, right? If they see you, then they can get to know you. And then if they know you, then they can get to like you. And then if they get to like you, then they'll trust you. And then only after trust has been established would someone want to invest or partner with you in a deal. And it goes both ways, too. So for those investors who are out there listening, we've had to turn investors down to like that's happened before where, you know, we know it's the right fit, they have plenty of cash, it's just that we know that this is not going to heal the long term harmonic or harmonious relationship. And so we just have to make those decisions, right? Like it's all about personality fit, adding value and knowing that each other are trying to do the best for each other right in a partnership. Because that's really how we view it, it's a very serious thing. And at least in our business, we want to be friends with the people that we're partnered with, we want to be on the same level and be able to talk with them at any time,Prashant Kumar:
I must just give you one example, you know, I'm getting into a deal where I need some extra capital, and I happen to be out of capital. So I asked my investors, if sending any more, I would want to keep bringing some adverse capital to the table. And for that, you know, obviously, they get some general partnership and stuff like that, and these are already general partners in the project, but I am scared to the core that I cannot lose my investors money, I thought that I would take it from them. But eventually I ended up declining that even though investors were ready to put in one thing is I lose my money for whatever reason deal doesn't close, I end up losing that at risk capital. Other thing is investors money should never get lost, right? If even even the investor is ready to put it in from that perspective, we said our money is money, but investors money is gold, I cannot lose that money, I cannot and we ended up we ended up declining that project because I was out we were out of capital. We said no, even if investors want their money to be put in that risk bucket, we cannot do that. It just is not going to happen. So we ended up declining that project. Because for us, the most important thing is I mean, of course trust is there investors trust us, right. And obviously they knew the risk also that risk capital if they are putting in return or that they would get some general partnership. They, you know, they will have access to all the documents. But still, we said it just cannot happen. You know, because we know they don't know much. They are investors, right? They they don't know the nitty gritty details of anything could happen in real estate, you know, even before closing, things may go south. Right? You end up losing money. So yeah, you just we just couldn't, couldn't do that transaction.Derek Clifford:
I hope people hope you guys all listened to this because, you know, Prashant was put in a situation here where he was short on capital. He could have closed gap with investor money. But he decided that ultimately it wasn't worth the risk. And then ended up taking a loss on the bottom line and yourself, you probably lost earnest money, lost your expenses and due diligence, all those things that you already paid for, right? And I just want the the people out there to understand that good operators do this. They'll say, You know what, like, we're short. Maybe the business dynamics changed a little bit, maybe we learned something about the deal that was on us, we should have caught. But we own up to that. Here's everyone's money back, you know, let's try it again, on another deal, we just don't want to take that risk. That is ultra accountability, and not someone that you want to partner with it, let's and it's also a microcosm of who you are as a person. And that's why the trust factor is so important because you only do the deals that you as a person and your risk tolerance that people will match up with you are willing to go with you on right. So people have to understand who you are as a person. And that's why that trust component is really big. So I appreciate you sharing that story. One thing I want to ask you before we get into my final question is can you talk a little bit about your underwriting process, right? In order for you to make deals like this with your partners who are ultra high net worth very busy, probably not going to be totally upset if you lose a bunch of their money, but I know that I would be wrecked, you know, I know you would be too but what type of underwriting criteria are you bringing to the table to help you know, conserve risk and keep the good deals good, that are coming through to your desk,Prashant Kumar:
see, see a fundamental of underwriting czar based on what kind of returns you are producing, right? I mean, what is the risk you are taking? If you go into underwriting process, we we don't over shoot our escalations, right, we don't rent escalations, our rent escalation has to be below the market rent growth. So we try to keep that as low as possible. Typically, even if the market is going by five 6%. We will escalate our rent by three, three and a half percent a year. That's number one, right? I mean, that's the major thing, a half percent a 50 basis point increase in the rent could change the returns, like left and right, you know, it would be 15%. Or you could be 18%. Easily, you know, at least that much difference. That being said, our expense, expenses typically go higher. I mean, we tried to keep our expense at 2.5 to 3%. But as going up, in addition to that, you know, obviously, we will underwrite our current rents. Are our current rents our current rents, but future projections, see all underwriting is about rent growth, right? What is my current rent, and what is my projected rent, and how much money I'm going to put in this project to improve the rent from current rent to the future rent. That's all the underwriting is, everything else is fixed bank interest is fix. All the points are fixed, all the fees are fixed. The only thing variable is how much are your rent growth and how much is your expense growth, we just play with that as conservatively as possible to keep our minimum returns projections, you know, I'm not going to go and project 20% 18 IRR. If my project is gonna, you know, I'd rather would project 13 to 14 IRR on my project than 89 IRR. Because even 13 is good enough 13 IRR is good enough for my project, you know like most of my investors, they are not looking for cash flow, as long as I can give them five to 7% Cash Flow year over year, they are happy that they are getting a check in their mail, but they are getting chunk of money at the end at the end of the sale right. Now, there are some projects in which we have larger capital expenditure. So we tried to put the money back in the project. And that means that you know, we don't have any cash flow, but investors don't understand that we may not have any cash flow for a year or two, but in the end, we will get a little bit more return. So, being conservative is always helpful. And you know eventually that takes you to the next level because nobody is looking for a 20% return the Paramount Paramount thing investors mind is to how to that they do not lose capital and obviously we are not lost original capital even once then comes how much how much can they get? If the investor is making 10% or 12% on their money? I think Ultra busy professionals are happy. Are we able to produce more than that always. We have always beat our projection And that's why they come back to us again and again.Derek Clifford:
Fantastic. This is really good things for the listeners to listen to, for what good operators do in order to project the targets. One thing I would also say to to add on to this, Prashant is that, even though you're projecting 13, to 14%, internal rate of return on some of your deals, right, as one of your primary drivers, I know operators out there that consistently project that, and then they end up returning somewhere crazy, like double that amount, right? Like doing 26, or 30. Can you imagine the delight, right, that that's in there. So I want people to be aware, too, that there are some operators that put that forward to try to attract investors by saying, Oh, it's gonna be 20% IRR, and then the actual IRS end up coming at 15 or 14. That's, that's not, that's not the best way to do it at all, it's better to under promise and over deliver rather than vice versa. And so, you know, like Prashant was saying, you adjust the growth rate by half a percent in year one and two, and you could throw off the entire dynamics of the deal. So rather than looking at the purely the IRR and the return the equity multiple at the end of the project, look at the operator, because the operator, it's a measure of how much risk they're willing to take, and how much they think they can do. Right. And if they think they can do well, and the reputation and track record shows that they've been hitting that, then that's where you're going to really lean in on that risk. Right as as a limited partner.Prashant Kumar:
Yeah, I think I think people invest in you not in, not in a project, one. And that's what I do. I do also mean when I invest, I just invest in people. I mean, if somebody comes direct comes to me and said, Prashant, this is the deal. I would invest with my eyes closed. I mean, and that happens with me all the time. You know, people come to me and say, When is the next deal coming? I want to invest. And 90% of time, they do not know what the deal is all about. And they say I'm sending the check. I said, No, first you write the PPM, you go through it, sign the PPM, and then you find the escrow, rather than you send me the money. So it's so so fundamentally, people accept you as a, as, as a guardian of their money, right? As you have vetted the deal, I mean, whether it is my deal or somebody else's deal, that I have added the deal properly, and I am sure, and 100 preserved deal, I would invest my money, then only I asked somebody else to put in their money. So I'm into the deal. And without that, you know, I don't go into a deal at all.Derek Clifford:
Yeah, great approach. And it's a good thing for people to listen to you there as well. If you can't get your head wrapped around the property yourself, then don't don't offer it to others. That's very good advice. So last question I have for you before we head into the Rapid Round, which is, you know, meditation practice, this kind of ties in with investing and also being an ultra busy professional, right, creating general generational wealth there. Let's talk about how the mind real quick, can help you expand in all these different directions or, you know, just be as still as you need to be, to deal with changes and, and to be calibrated to be able to handle some of these incredible swings in, you know, fortune or famine, right that comes with with multifamily real estate. Can you talk about how that ties into who you are as a person, and how that comes out in your real estate business and how you communicate with investors.Prashant Kumar:
See, the one thing I was I would say about meditation, the more I meditate, the more I realize how little I meditate. So that's something that's something which I have realized myself over 30, you know, and last 30 years of my meditation practice. And every time I may take, you know, you just gained so much clarity. So the time that you're spending in meditation is not lost. I think, I personally think and I sincerely believe in it, and people will shoot me when they hear what I'm saying and if they don't understand it, but pardon me for saying that. Through meditation, I'm able to create time. The things that I'm not able to do myself otherwise, I'm able to do it correctly. Because that tends to to take me days to mull over and wrap my hand around takes me few minutes to understand clearly and act upon it. If I don't meditate, those that doesn't happen, and I'm like all over the place confused thinking about it in circle, discuss. No one going in all different directions. But when I made tait, sincerely My mind is clear. And even though the purpose of meditation is not to think, but most problems get solved during meditation time only, most of my problems get solved, I find a solution for most of my problems during my meditation time only, even though that's not the purpose of meditation. So I am able to create time. See, real estate is a business where you are connected always with so many people, I'm talking to you, my phone is chiming. So there's so much impressions coming from all different directions, and everybody wants a piece of your time, time is limited 24 hours, maybe you work 10 hours, maybe you apparel hours, but there's a lot of impressions coming from all different directions, a ability to handle them properly, comes from a Titian, so whether it's my business or my personal life, or professional life, now, no business, no profit in life, basically, all that handling happens correctly. And I will say the way it should be handled, yes, I can handle a situation and different ways. But if you handle it correctly, then you are doing the right distance, basically. And that happens only through meditation for me. And I'm a, you know, great advocate of meditation. Like, we talked about it last time, Derek, you know, and I'm, I'm a volunteer, instructor, I, I live it, I live for it, basically, I live for it, I'm willing to help anybody. And everybody free of cost for my life, all the time, anytime, any day at any time. So that's my commitment, because I found something and I want that to be sort of dispersed in the society, to my friends and family members. And even to anybody, you know, I have folks in Japan, I mean, in Russia, Indonesia, you know, somehow they are connected, and they are sitting meditating with me, you know, that just my personality. And this is how I want to give your back to the world.Derek Clifford:
This is excellent. And I can see the give back happening on both the time freedom and financial freedom that you're giving to individuals. Plus, the true freedom that matters is the freedom of mind, or the peace, inner peace, right? Or at least a semblance of inner peace or perspective, things that are so desperately needed in this world. And so definitely, we'll get into that, and just in a few minutes here to find out how people can learn more about that in just a couple of minutes. But before we jump there, so let's go to the Rapid Round. So if you're ready, we're gonna go into the Rapid Round. It's five questions, we ask all of our guests, and they're meant to be answered in about 30 seconds timeframe, if possible. Okay. All right. Number one, what book has had the biggest impact on you and why? And we ask that it not be the Bible, or the purple Bible, which is rich dead?Prashant Kumar:
Yeah. So the book that has most impact on me is basically a book written by the founder of the group, I'm associated with heartfulness.org, and the name of the book is The heartfulness way. It just tells you how to live your life. That's it. Nothing more than that. I mean, no preaching or nothing. The heartfulness way, how you would live your life in a heartful manner.Derek Clifford:
Okay, perfect. Awesome. I'm looking this up right after this. Number two, if people wanted to emulate your success, what is the first actionable thing that you think they could do to follow in your footsteps?Prashant Kumar:
The first thing that they can do is they can connect with me, I can guide them in the right direction. Based on what is their current situation, you can schedule a 15 minute call half an hour call with me. And I can guide them in the right direction and take the steps further. But start learning about real estate, start learning how you can be involved in real estate, and potentially hire a mentor, but potentially hire a mentor. And I can suggest that to them too.Derek Clifford:
Excellent, perfect. Number three, what is one tool process or hack in the last three months that you've employed to help save you time and or effort?Prashant Kumar:
One thing I've hired, you know, I've done is I've had a personal assistant, who's taking care of my admin related activities. I'm still coaching her, because what I feel like you know, whole day I keep on doing all the admin stuff, then when we do business, so I'm trying to offload my admin activities. So I'm giving the minimum wage activity to my assistants. Nothing bad. I mean, I'm giving them the employment but I'm trying to get into RGA which is revenue generating activities.Derek Clifford:
I got it perfect. Awesome. Number four, if the people that you know how to Describe you with one word, what do you think that word would be? Compassionate? I was about to say something like that. That's absolutely right. A very good. Number five, what is one small thing that most people don't know about you?Prashant Kumar:
There are a lot of things people don't know about me, obviously, you know, I think I get angry considerably. When I lose temper, I call it very loud, but I lose temper very seldom. It doesn't happen that often. So I think people do not know about that, because it doesn't happen too much.Derek Clifford:
I can imagine I can only imagine what that is. And it's very hard for me to picture that. But there was a quote that I heard one time it was, I think it was something along the lines of beware the fear you have a patient man or something like that. Because, you know, it must be something really major if it goes that far. But anyway, Prashant, thank you so much for coming on the show. This is this is a blast. I had an absolute fantastic time talking with you here. But before we go, why don't you tell a little bit more about how the audience can find you.Prashant Kumar:
So it is very easy to connect with me. You know, my name of my company is myRealtyGains, you see at the back of my my head, myRealtyGains.com. And just schedule a call with me on the top right hand corner to schedule a call with me button and just schedule a call with me there. That's it. It is as simple as that.Derek Clifford:
Very cool. All the things that you mentioned to Prashant, we'll put in the show notes as well. So for your listeners who are looking for some of the resources that you mentioned, including the books and your website that should all be listed there inside the show notes wherever you're listening to the podcast but, Prashant? Man, thank you so much for coming on the show. I think this is going to require part two to dig deeper into the meditation piece.Prashant Kumar:
Also, anytime, anytime. I would love that, you know, because that's what I live for. You know, so anytime for that, Derek, but thanks so much for inviting me here. And yeah, thanks for your time.Derek Clifford:
Yes, it's been a blast. And for you listeners who are with us right now. Just want to thank you as well for listening to the podcast and wherever you're listening or watching this podcast, please make sure you engage with us. You know, comment, like, subscribe, thumbs up, anything you can do to help appease the algorithm gods from your end. That'd be much appreciated so that we can get more people involved in the show, and then continue to bring on excellent guests such as Prashant and many others. So, dear listener, thank you as well. We'll see you again next week. This is Derek signing off. Take care.