In today’s episode, Jeff interviews Cody Yeh in Toronto, Canada. One of the freedom engines that Jeff shares with his audience is Real Estate. Cody is in the real estate business and will talk to us about real estate and strategies. Cody starts by sharing his story of coming to Canada on a student Visa. He majored in Engineering but learned that while engineers had a great start they have limitations, so he enrolled in some business courses. After graduation Cody worked for Honda and later he took on learning stocks as a second job. Years later Cody got into Real Estate a little more and the rest is history. Cody shares some real estate strategies with us and also how your mindset is just as important as the moves you make in life.
Cody and Jeff discuss:
- Born in Taiwan, came to Canada on a student Visa at 18.
- Engineering major at the University of Toronto. Learned that being an engineer was a good head start but has its limitations.
- 2nd year in college enrolled in several business courses.
- After graduation, he started working at Honda (car company) and wanted to become a formula 1 driver at first.
- Worked as the project manager at Honda and was working a lot of overtime (400-800 hours). Saved and bought some Real Estate.
- Met a friend of a friend who was managing a 50 million dollar account as a hedge fund manager from Taiwan.
- Hired her as a coach and learned about stocks as a second job.
- 2019 Mid-Management, managing 11 engineers and frustrated with his job. At that point he already had enough income with stocks/properties to replace his salary so he resigned.
- What Cody’s doing now: real estate syndication, launching a real estate fund this year and preparing to invest in real estate in the US.
- He’s also building a following on youtube, for the last 3 years, for his Podcast - High Income Earners but being a stock option investing coach and real estate funds are his biggest focus this year.
- Real Estate Strategy: Buy properties, renovate them (ADU), then use the equity to buy another one.
- Mindset is important; sometimes we can get stuck in our mindset.
Fast Five Questions
- If you woke up and your business was gone, you have $500, a laptop, a place to live, and food, what would you do first? “I would get into sales and marketing.”
- What is the biggest mistake that you have made in business? “Hiring B or C players.”
- What is a book that you would recommend? “Never split the difference: Negotiating as if your life depends on it by Chris Voss & Tahl Raz.”
- What is a tool that you use everyday that you would recommend? “Google drive.”
- What is the best way to contact you? “Google search: Cody Yeh; Website: codyyeh.com; YouTube: Cody Yeh Investing; Podcast: High Income Earners & F.I.R.E.”
Jeff spent the early part of his career working for others. Jeff had started 5 businesses that failed before he had his first success. Since that time he has learned the principles of a successful business and has been able to build and grow multiple seven-figure businesses. Jeff lives in the Austin area and is actively working in his community and supporting the growth of small businesses. He is a board member of the Incubator.Edu program at Vista Ridge High School and is on the board of directors of the Leander Educational Excellence Foundation
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