Today I had the pleasure of speaking with Shane Melanson, founder of Melanson’s investments and author of Club Syndication. Shane was successful on paper but miserable in life until he learned systematic ways to invest in the right commercial properties that would inevitably yield seven figures. Shane has now dedicated his life to helping others find the right commercial assets to invest in to escape the need for trading time for money. Let’s dive into Shane’s story and learn how he figured out how to become successful in commercial real estate by working smarter not harder.
[00:01 – 07:42] Opening Segment
Shane has a very interesting story about how he learned a lot about the value of money as a child. When he was in fifth or sixth grade, his father asked him what his budget was for the whole year and wrote him a check with that amount right there and then. He ended up running out of money around October but he learned about how to be resourceful and that he doesn’t want to worry about money ever again. He carries this lesson until now in his adult years.
Fast forward to when he was already at the university, he had money because he was working four jobs. However, he had a friend who was working one job but owns three houses. He and his parents also experienced losing in an investment—his parents lost around $100k while he lost $13k. This got him started learning about working smarter not harder.
[07:43 – 19:20] Working Smarter Not Harder
Around the time that he was working four jobs, Shane was also saving a lot of money but was just putting all his money in the bank instead of investing it. His spending and saving habits eventually led to his then girlfriend breaking up with him which motivated him further to change the way he operates.
Shane realized that he just can’t go on hoarding money, started learning about real estate, bought his first house, and got a tenant-roommate. From then on, he kept on investing in real estate and ended up flipping 20 homes in the first few years! However, Shane’s journey to working smarter not harder does not end here yet. Shane eventually realized that he had to niche down. He therefore learned about how to do “reverse engineering” to reach his goals and about having someone else look at his life. Make sure to listen closely and not miss these and a few other tips on how you can also start working smarter.
[19:21 – 33:08] How to Maintain Your Focus
Shane has previously mentioned the importance of having a plan on how to get from Point A to Point B. This time, he talks about the way he sets goals that really worked for him. He says he wrote his goals thinking that someone else is going to read them.
He also talks about how he realized that he needs to spend more time with his family. Shane shares that even though he was doing everything for his family, there was a time when he felt that they were so disconnected from each other. Back then, he used to spend so little time with them since he was busy with work. He also shares how he was able to finally change this.
Lastly, Shane talks about how he maintains this lifestyle and be successful in real estate investing at the same time. We must not be scared to walk away from deals where we are not really needed. If there’s nothing new we can contribute or bring to the table, Shane shares that it’s okay to walk away. After all, in the long run, you’ll gain the trust of more people if you do this.
[33:09 – 41:36] The FOCUS FIVE Segment
The FOCUS FIVE are five questions I ask every guest on my show. Keep on listening to find out what book Shane gifts most often; who would he talk to if he can get an hour of any person living or dead, from the past or the present, and why; that one thing he believes but most people will disagree with; his morning routine; and lastly, where are the best places we can connect with him online. (See the links below for Shane’s social media links!)
“Are you great at finding deals? Making partnerships? Raising capital? Are you on the execution? Do you lease up prosperity? Do you get the debt? There’s got to be a reason for you to exist, in my opinion, in a deal.” – Shane Melanson
Resources mentioned in the episode:
- Club Syndication – by Shane Melanson
- Principles – by Ray Dalio
- Rich Dad Poor Dad – by Robert Kiyosaki
- Think and Grow Rich – by Napoleon Hill
- Unleash the Power Within – by Tony Robbins
- Schedule a call with Hans
You can connect with Shane on Twitter, LinkedIn, and Instagram. Visit his website shanemelanson.com and check out his YouTube channel about investing in commercial real estate. Be sure to also listen in to The Investing Advantage Podcast to learn more from Shane on building principles as well as lessons from experienced guests.
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A few last words
Are you working HARD but not really moving the needle on anything? You should check out my POWER LIST and find out how you can get more done to move your business, project, or relationship closer to where you want it to be. Let’s go!