CFD 506 – Making An Impact With Frank McKinney

January 7th, 2019

Frank McKinney is a real estate artist and internationally bestselling author of Make It BIG!: 49 Secrets for Building a Life of Extreme Success, Burst This!: Frank McKinney's Bubble Proof Real Estate Strategies, and Frank McKinney's Maverick Approach to Real Estate Success: How You Can Go From a $50,000 Fixer-Upper to a $100 Million Mansion. He created 27 self-sufficient villages in 24 cities in the last 16 years, impacting the lives of 12,000+ children and their families. McKinney is a five-time bestselling author in 4 genres, real estate “artist” who creates multi-million dollar oceanfront homes on speculation on the sun-drenched canvas of the Atlantic, Hollywood actor, ultra-marathoner, and acclaimed speaker.

Podcast Highlights 

  • Who is Frank McKinney?

Everybody needs a place that draws out their creativity and ingenuity because that is what gets you ahead in business.

Frank grew up in a small town in Indiana and always wanted to be Willy Wonka because Charlie and the Chocolate Factory was one of the greatest marketing films of all time. When you combine that with Robin Hood, it gives you a good picture of who Frank McKinney is.

Motivation washes off and goes down the drain with the soap at night. Motivation and inspiration don’t last, but aspiration will alter your DNA. Who do you aspire to emulate?

We have to start small. Frank began the first five years of his career buying houses that were worth less than $100,000 and flipping them. He put in his 10,000 hours into the craft of real estate.

Approach your business as an artist would approach their craft. A lot of investors approach the business looking to cut as many corners as possible.

  • Real Estate Artistry

Most people that enter the real estate industry see a spreadsheet and look to squeeze as much as they can out of it. Frank looked at his career differently. He compressed his margins early on so that he could grow his reputation. He took the time to build his reputation before he built a house.

You must set yourself apart in your industry with your personal brand. Personal branding is the art of amplifying your essence so your customers become intoxicated by your message and you as the messenger, and then in rapid fire succession with your product next. Your personal brand is very important in the real estate business because there are so many people in it that you have to stand apart.

Authentic, Transparent, and Vulnerable is a great way to approach your life and your business. Frank had a lot of self destructive tendencies when he was young, but he swore off the dangerous habits and channeled those desires into his business.

  • Speculation Building

Frank’s niche is deeply local, the farthest project he’s done from his home is only 8 miles away. There are only roughly 160 opportunities for Frank to build on the oceanfront area he uses as his canvas.

The big lesson is to carve your niche and deeper and wider than most. Know your market better than anyone else. Frank knows his market and the market knows him.

Risk tolerance is like a muscle, the more you use it the more capable you are of taking risks that others would think are crazy. Fear is what stops us, it’s not the risk. Risk is always associated with a big change or a big challenge in our life. For Frank, the biggest risk is not taking one.

Frank is still afraid, that’s how he knows he’s moving forward and making progress.

  • Caring House

To whom much is entrusted, much is expected. This is why Frank started Caring House and started building villages across the world. Frank describes himself as a simple thinker. If he’s building homes for the world’s most wealthy, shouldn’t he be building houses for the poorest as well?

At the height of Frank’s career, he felt no joy in his life because he hadn’t discovered his highest spiritual calling. If you feel empty, it’s because you haven’t nurtured the world. He started feeding the homeless for one hour a week for a year but that was only the start.

  • Frank’s Takeaway

That voice is fear, you must recognize it for what is. It will try to convince you not to do it, but where will you be if you don’t try. You may fail but that’s ok. Have a healthy ego about what you’re going to do. Believe that you’re a little bit better than other people about what you’re do and don’t be afraid to tell others about it. Where are you going to be next year if you don’t take that risk?

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