Episode
Michael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
1:07:27
Published: Tue May 31 2022
Description
Sam Parr (@TheSamParr) talks to Michael Sonnenfeldt, founder and chairman of Tiger 21 - a peer-to-peer network for high net-worth wealth individuals - about how to build wealth and how to preserve it. ----- Links: * Michael Sonnenfeldt * Tiger 21 * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ----- Show Notes: (01:40) - What is Tiger 21 (09:40) - First business (13:45) - Levels of wealth (33:30) - Ability to earn vs. ability to invest (34:50) - Why real estate (41:30) - Do you regret selling? ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More
Chapters
HubSpot CRM is a modern CRM platform that offers a one-stop solution to automate tasks, manage contact and deal information, and streamline customer service.
00:00 - 00:52 (00:52)
Summary
HubSpot CRM is a modern CRM platform that offers a one-stop solution to automate tasks, manage contact and deal information, and streamline customer service. It's easy to use and free to get started.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
This episode discusses the challenges that successful entrepreneurs face when transitioning from managing a business to managing their wealth as an investor, and how Tiger 21 can help with this transition.
00:52 - 05:56 (05:04)
Summary
This episode discusses the challenges that successful entrepreneurs face when transitioning from managing a business to managing their wealth as an investor, and how Tiger 21 can help with this transition.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
The main difference between Vistage and other organizations like YPO and Tiger 21 is the average net worth of Vistage and YPO members is probably a tenth or fifth of that of Tiger 21.
05:56 - 09:34 (03:38)
Summary
The main difference between Vistage and other organizations like YPO and Tiger 21 is the average net worth of Vistage and YPO members is probably a tenth or fifth of that of Tiger 21. Vistage's current focus is on members between 20 million and a billion.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
Despite the common belief that more money leads to more happiness, studies show that even those who earn millions of dollars a year still want more money to feel happier.
09:34 - 18:02 (08:27)
Summary
Despite the common belief that more money leads to more happiness, studies show that even those who earn millions of dollars a year still want more money to feel happier. This indicates that there's no set amount of money that can guarantee happiness.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
The podcast discusses the differences in the amounts and ways people earn their money, highlighting the threshold of when earning more money cease to add to happiness.
18:02 - 27:34 (09:32)
Summary
The podcast discusses the differences in the amounts and ways people earn their money, highlighting the threshold of when earning more money cease to add to happiness.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
Selling a business can be emotionally challenging as it often involves a sense of loss and adjusting to a new way of life.
27:34 - 34:55 (07:20)
Summary
Selling a business can be emotionally challenging as it often involves a sense of loss and adjusting to a new way of life. Many people experience sticker shock when realizing that the passive earnings from selling the business generate dramatically less income than the business itself did.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
Real estate is a unique investment because of its durability and capacity to benefit multiple generations.
34:55 - 41:19 (06:24)
Summary
Real estate is a unique investment because of its durability and capacity to benefit multiple generations. An effective investment strategy is to generate wealth through technology and invest in real estate for long-term stability.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
The decision to sell a business is a shift in risk, not necessarily a way to make more money.
41:19 - 46:13 (04:53)
Summary
The decision to sell a business is a shift in risk, not necessarily a way to make more money. Though you may pay taxes on the sale, it can be a simpler and less risky option compared to trying to make the same amount through annual cash flow.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
Learn about the concept of asset-backed loans as a financing option after selling a business and how some people mistakenly assume they can replicate business success repeatedly.
46:13 - 52:40 (06:26)
Summary
Learn about the concept of asset-backed loans as a financing option after selling a business and how some people mistakenly assume they can replicate business success repeatedly. Additionally, the importance of separating investment abilities from business ownership is also discussed.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
Tracking studies have shown that children who are able to delay gratification are more likely to be successful in various aspects of their lives, including academics, career, and finances.
52:40 - 57:50 (05:10)
Summary
Tracking studies have shown that children who are able to delay gratification are more likely to be successful in various aspects of their lives, including academics, career, and finances. A British entrepreneur, similar to Richard Branson, discusses his flamboyant lifestyle and decisions regarding spending money.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
Michael Sonnenfeldt, Founder of Tiger 21, discusses the impact of giving family wealth to children while still living and warning of the dangers of bad facilitators of the group.
57:50 - 1:05:04 (07:13)
Summary
Michael Sonnenfeldt, Founder of Tiger 21, discusses the impact of giving family wealth to children while still living and warning of the dangers of bad facilitators of the group.
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
The guest speaker emphasizes the value he received from being a member of a business networking group outweighs his ownership in the business.
1:05:04 - 1:06:24 (01:19)
Summary
The guest speaker emphasizes the value he received from being a member of a business networking group outweighs his ownership in the business. He encourages listeners to actively participate in their business community and explore networking opportunities.