Episode 78: Lee Arnold Code Enforcement and Abatement Treasures

Real Estate Investing Profits Master Series with Cory Boatright

Today, I speak with Lee Arnold, someone I’ve known for about a decade. He is someone I hold in high regard and respect him for his ability to have built his business based on biblical principles.

We discuss how his personal history led him to his current career, as well as how his faith guides him in business. We also talk about his experience with code enforcement and abatements.

Tune in to hear Lee’s story and what he does at Cogo Capital.

MINUTE MARKERS

• [04:00] Lee calls in from the small town of Coeur d'Alene, Idaho.
• [05:50] Lee’s educational and professional history.
• [07:45] Discussing how and to whom his business lends money.
• [10:28] Why Lee dropped out of college sophomore year.
• [12:12] How his mother and the community supported his entire family for two years.
• [15:45] How Rich Dad, Poor Dad influenced his outlook at an early age.
• [19:55] Being in the right place at the right time with the right people.
• [20:28] Lee’s first experience with the code enforcement/lien abatement process.
• [26:55] Why and when you should focus on properties already producing income.
• [29:35] Making sure you have a bedrock.
• [32:04] Why making money caused Lee to backslide.
• [34:18] Why banks don’t see this business as a legitimate one.
• [38:55] Lee’s three favorite books.
• [41:25] Why Lee bought SendFuse.
• [42:45] His and his wife’s experience having children.
• [49:45] The importance of mentorship.
• [53:27] Why raising money is the scariest thing you can do.
• [53:28] What Lee’s business is doing at present.

Quotes:

And that’s the secret sauce: If you’ll simply find good deals, then money will readily be available for those things.

The best predictor of future performance is past performance.

Links and Resources

Cory’s Coaching

How to Win Friends and Influence People

Life is a Series of Presentations

Predictably Irrational

SendFuse

Cogo Capital

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