February 13, 2018
Title: Episode #28 – James Knull – Live Well
“How successful I am in life, is the quality of connection I have with the individuals that matter most to me. It’s not a quantitative accomplishment…but that’s one of the things that I have in my life that makes me feel accomplished and that I’m the most proud of.“ – James Knull
James Knull hails from Edmonton Alberta and is a long-time REIN Member, real estate investor and realtor. He started investing over 11 years ago and founded his business, Mogul Realty Group, to create an environment for exceptional real estate services with an emphasis on personalized goal achievement. James now owns over 250 doors in Edmonton and has become an award-winning realtor in Edmonton.
James’ achievements can be directly attributed to his systems, goals, accountability and critical reflection but even more importantly, his connections, collaborations and the relationships he mindfully creates with his friends and family.
In addition to real estate, James has a passion for downhill skiing, and you may also find him training at the gym for his next Spartan race, marathon or triathlon. James works hard, plays hard and lives well.
Selected Links and People Mentioned from this episode:
- Mogul Realty Group
- Mogul Mastermind
- The Real Estate Investment Network
- The Authentic Canadian Real Estate System (ACRE)
- Eat that Frog – by Brian Tracy
- [02:12] The Everyday Millionaire REIN Member Guest Series welcomes James Knull.
- [04:18] Patrick and James dig in and get started!
- [04:54] James, what’s your elevator pitch?
- [05:54] James gives us a little bit of background on growing up in Edmonton, Alberta.
- [06:45] The support of his parents allowed James to explore what made him happiest. But it was his brother’s love for competition that James attributes to his entrepreneurial spirit.
- [09:27] The journey of James’ university years and in retrospect how being in a fraternity set the foundation for his business acumen.
- [11:38] How his gap year provided James the space to discover new talents that intersected with something he loved.
- [12:47] James explains part of what fires him up and drives him to keep exploring real estate both as a realtor and investor.
- [14:17] Lets dig a little deeper. James’ passion for the business of real estate is truly lit by the collaboration process with his clients, team and partners.
- [17:07] James shares his business vision and the dynamics of his team environment.
- [19:31] ‘Live well’. James’ business philosophy and the master mind group he is part of..
- [20:36] James’ Sunday night routine: checking in on the week past, the week going forward, keeping himself accountable and eliminating unnecessary things in his life.
- [22:42] Intuition vs. education. How much of James’ time is spent reading and learning through external resources? And how do his learnings impact his life?
- [26:27] Critical reflection of why he and his team do what they do breathes life into his business rather than stagnating in “because that’s how we’ve always done it”.
- [28:23] What is one of James’ biggest accomplishments?
- [29:04] James test drives the life of a “ski-bum” in Whistler BC for five months while keeping his business active in Edmonton. The wins and the limitations of the systems he put into place.
- [32:10] His sabbatical helped James recognize that achieving the compelling action he envisions for his business, is rooted in the team he recruits and their alignment with growing the business alongside him.
- [33:25] What inspired James to join REIN and turbo charge his business of real estate investing?
- [35:30] Being young and impulsive at 22, James sets out on a 30 by 30 plan to acquire 30 properties by 30 years of age which he achieved but didn’t necessarily result in a healthy portfolio. It did however provide him insight that more may not be better.
- [38:12] Driven by “live well” rather than solely by competition, James is now crafting his property portfolio towards how it will contribute to his lifestyle, not steal from it.
- [40:07] What is James definition of success?
- [42:12] What is one of James’ biggest failures that turned into success?
- [43:35] James delves into common oversights he has observed made by real estate investors and breaks down the numbers to support buying for quality and not just a low sticker price.
- [48:42] Looking at real estate in terms of dollars per hour and assigning a different value to return on investment (ROI).
- [49:29] After 10 years as a Member, what keeps James coming back to the Real Estate Investment Network?
- [52:42] James explains the difference he sees between people who find success in real estate investing and those who get stuck in fear.
- [55:32] The critical importance of having a professional team to work with in your business of real estate investing and who some of those players are.
- [62:43] James and Patrick talk a bit about creating an environment for success – both with real estate investing and the workplace.
- [64:45] What is James’ mindset and self-talk when things are going sideways?
- [66:58] Let’s get to the rapid fire! Favorite swear word, James’ alternate profession, message at the pearly gates, weirdness scale, don’t ask him to serenade you, most impactful book, what gets cleaned first, favorite movie and favorite tune.
- [69:51] James’ gratitude.