The Power of Mentorship with Jason Yarusi
By Mary Maxey
October 24, 2019
In today’s episode, our guest is Jason Yarusi. He is an active Real Estate Syndicator and Real Estate Investor. Jason and his wife, Pili, founded Yarusi Holdings, a multifamily investment firm with over 2000 units acquired since 2016.
Jason also hosts The Multifamily Live Podcast, which provides actionable content and tools to build and strengthen your multifamily business. He is also the founder of the New Jersey Multifamily Live Club, which focuses on Real Estate syndication and MultiFamily investing.
[6:20] Why should I listen to you?
You know, that’s a good question. Right? And maybe you shouldn’t, and a lot of times in life, you have to understand the best value you can get so that you can really go out there and serve others. It’s fun to meet a lot of people. If we sat down together and talked honestly from us, we could replace where we built a lot of where we are today.
[12:50] Where did that kind of muscled develop? Was it before this construction gig or at a childhood level?
My dad has a business where he lives in lost buildings. That is what he does. So my brother and I helped him at one point, and it was the serving notion that we were just stepping from one service to the other. It was great to help dad, but I knew it wasn’t the direction we wanted.
[15:10] What best way to set someone up for success when delegating?
It’s divided into two parts. One, you want to know if you want to do that. Because if you’re going to delegate and you’re going to be on a part, and then you’re going to dictate every move of them, well, you might as well not even delegate because then you’re dictated being the dictator and just controlling every motion. You’re going to only empower them to do if you’re going to be a task giver at every point. It’s not going to help you. so at every point, you hired 10 people but for every single step they need your approval. They need the next step for you. Well, then, you’re defeating the mission. The point of delegation is to have roles and responsibilities and trust me. We could have improved at this. And it took us a minute to set up the roles and responsibilities. And we found that we hire people who fit well with us. And for them, we empower them to help us build with the role needs to help us with the roles and responsibilities.
[18:03] Where was your aww shift moment that constitutes a catalyst to this next stage of your life?
Yes, and it was the combination of doing a lot of activities. We were running the construction business and also doing 12 to 13 jobs. Again, we had our first baby and the second one. We wanted to get into real estate; however, we didn’t know what that meant, so we did what we thought was right. We started flipping houses started wholesaling and doing some Airbnbs. However, we were just stacking the construction activity with more activity of running all these construction projects because here we are in the middle of that. It came to a point where my wife went to a real estate meeting where she met someone who was buying out-of-state rentals. And that was when something went off and we decided to buy this rental out of state, empowering teams to get through.
[21:35] What was that journey to dive into this new venture?
Yeah, I told her about it. I told her all the reasons why they let her sit there with them in it. So we do go to different places. I’ll go 27 steps, but I realized that is bad. One of my failures as a husband that I’ve constantly worked better at is that I talked a lot and then answered for her but we need both sides and that’s the power of our success here. However, I had to stop speaking and then answer a different question. I asked her a question and then answered the question before she could answer it. So I let her unravel with that. So I aligned to get mentors around other people that could show me just the steps and the basics. Find a market, find a property, and put a team together. But the power of mentorship is that all these little intricacies are in between that can just destroy you.
[26:46] What has been your journey?
It’s a great question, and the honest answer is we had to learn more about the relationship, and we did the work side because we spent our first ten years working together. So that’s come more naturally, and all of our disagreements are just a lack of communication. It’s not easy raising a family and also running a business. Being your boss is fantastic, but you can never shut off. You can spend all your time working and you have to choose when is that on and off. There’s going to be certain times where there’s going to be seasons where you have to be all in with certain things too. My wife and I have worked at a bar where they would have on a Saturday 20,000 people and so now it’s almost like I’m like this is quiet. So our energy has changed so much, that work pressures are always pressures.
[32:12] What is your routine and how does it allow you to take control of your day?
You know one of my goals is that I’m going to pick my kids up every day and that’s something that I’m doing every day. So I get up, have a glass of water, make a coffee, meditate, and that is the first part then I’ll get out. Typically I do kettlebells or some work for 25 to 30 minutes and then run and I’ve done that to a point very consistently every day. And so no matter how I’m feeling, I get up I do my morning routine and I go and pick up my kids. And from there, our morning has now begun. Like I’m focused on doing what I’m doing but not in a way that will ever be detrimental or take away from my kid’s childhood with their father. It’s not always accepted in society nowadays. It’s hustle, bustle, build, grow. Family is important, but your family never sees you.
[36:55] So in your experience, Who’s the right person for someone like this lifestyle?
You have to be patiently impatient and I’ll explain that in a moment – that you don’t want to be where you are, but you’re patient enough to get where you want to be because we get stuck in a life where we expect immediate results. If you wish to change your life, you have to stop what you’re doing. Because if you’re expected to do exactly what you’re doing every day, you will get the same outcomes. Billy and I both grew up with inconsistency all the time. We worked in bars having a paycheck. There’s no consistency in anything from where we got paid, so from us, we learned how to understand that there are always more ways to make more money or survive or do other parts of the puzzle.
[40:30] how are you guiding the people you are teaching and what are you hoping for them?
Yeah, that’s a great question. So seven figure multifamily is where we teach other like-minded people to go out there and buy their first multifamily property. It could be anywhere from a four-unit to a 400-unit or anything. We help them in power, teach them the steps we’ve done, and the most important thing is mentorship. We show them what we’ve done that has worked. We also show them what didn’t work because those steps can be even more critical because they teach you precisely what you shouldn’t do. After all, we’ve already wasted our energy, time, and focus on those parts of the process. Then they can avoid those things so they can fast-track to reaching their goals by doing the steps others have done successfully to get where they want to be.
[41:44] What is the thing that separates the good students from the not-so-great students?
Take action. Understand that getting outside of your comfort zone is natural. We don’t want to be outside of our country. We must take action and surround ourselves with other members who can help fill our superpowers. You can do different parts of the process. But suppose you’ll try and do it all out of the gate. In that case, you’re going to try and find the deals underwrite the deals, put together the team, find all the capital, go out there and figure out how to do the due diligence, understand the construction, you know, source the market, and you’re going to try and do all that yourself. It will take you longer and make it harder for you to reach your goal. Instead of saying okay, here is where my focus is. Here’s where my energy here’s where I’m best served. Here’s where my superpowers are, and who else has the other superpowers I need to win and when I find that people can put themselves in a position to be realistic with themselves, where they can serve best they get to their goals much quicker.
[45:34] What promise did God make to the world when he created you?
I will leave this earth better than I found it by my choices. They are not always going to bthey’llat, but it’ll be the choices I choose to make after that last choice I made.
[37:24-37:30] If you want to change your life, you have to stop what you are doing
[46:57-47:00] If you want to be great, just be consistent
How to connect with Jason Yarusi