Unlocking Peak Performance: Insights on Real Estate and Personal Growth with Patrick Precourt

On a recent REsimpli Podcast episode, CEO Sharad Mehta visited real estate professional performance coach Patrick Precourt. The focus then turned more to how, in real estate as much as elsewhere, attitude and personal development define success.

Originally starting his real estate company in Cromwell, Connecticut in the late 1990s, Patrick first focused on lease options and short sales. Later on, he began studying real estate, but he saw a concerning trend: many students failed even with first-rate resources. Patrick originally answered by criticizing himself for this decline, but he soon realized that applying that knowledge was more important than knowing such.

This realization inspired Patrick to study human behavior psychology. He compared this challenge to the health and fitness industry, where conduct does not always follow information regarding weight reduction. Patrick stressed that knowledge by itself is insufficient; success is mostly about overcoming mental challenges like fear and limiting thoughts.

Now a performance coach, Patrick helps others remove psychological barriers so they could develop to show consistent behavior needed for success. In his view, real progress comes from confronting and overcoming these inner obstacles rather than from just picking up fresh talents.

Patrick spoke about his approach to managing emotional, psychological, or bodily pain—which should be embraced as a growth road map. This style of thinking helps individuals to overcome challenges and achieve goals. He also underlines the importance of establishing achievable goals as fast choices against more ambitious ideas overwhelm him.

Patrick counsels first-time real estate investors to pay more attention to certain controllable factors—such as bidding and pursuing leads than to unforeseen outcomes. His feedback loop for improvement—evaluating what happened, what worked, what didn’t, what was learned, and what should be done differently—has proven incredible power for continuous improvement.

Apart from his work, Patrick enjoys sailing, martial arts, and building old Land Rovers. He treasures hours spent with his wife; live music calms him down. Patrick finds remarkable relevance in Paulo Coelho’s reflective tales in The Warrior of Light.

Patrick engages individuals engaged in real estate and personal development on social media. With relation to persons looking to network,

This episode made it extremely evident that if one is achieving their goals, conquering personal challenges and constant work define more than competence.

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Transcript:

Sharad Mehta  1:44

All right. How are you doing today?

Patrick Precourt  2:13  

I’m doing very good yourself. Yeah, I’m

Sharad Mehta  2:15  

doing amazing. Let me just switch off my phone.

Patrick Precourt  2:19  

What, uh, where are you located? At? What state?

Sharad Mehta  2:22  

I’m little north of San Diego. Okay, by you,

Patrick Precourt  2:26  

Connecticut, about as far from you as I can get. Oh, yeah,

Sharad Mehta  2:29  

nice, nice. How’s the weather there? Must be pretty beautiful, right now, right?

Patrick Precourt  2:34  

Yeah, it’s been a hobby, awesome. It’s been a hot summer. It’s like, Oh, really? Like Florida up here this summer, and very hot, muggy. I get a little cooler today. It’s a little more normal today. But what

Sharad Mehta  2:49  

part of Connecticut are you from? After

Patrick Precourt  2:51  

familiar connect at all, kind of in the center of the state, near the Connecticut River, a little town called Cromwell. Okay,

Sharad Mehta  2:57  

yeah, not really. I had gone there, like couple of times. I went to school in New York, so I’d gone to Connecticut couple of times. A buddy of mine went to university, University of Connecticut. So we’re familiar with that area, yeah.

Patrick Precourt  3:11  

So that’s where I went to school, too. So UConn is kind of north east from where we’re at. Got it, so it’s an hour ride from where I am. Okay, yeah, cool.

Sharad Mehta  3:24  

And how do you see? Patrick precode, yep, okay, perfect. Do you have any questions on the podcast? No,

Patrick Precourt  3:32  

is there anything particularly want to get into? Any like, what are you thinking for content here?

Sharad Mehta  3:39  

I mean, we it’s very conversational style. We go based on, I don’t have any preset questions. I go based on the answers you’re giving me. I’ll ask follow up questions based on that should be about 30, no more than 45 minutes. Okay, does that work for you? Yeah, absolutely

anything in particular you want to talk about during the podcast. Well,

Patrick Precourt  4:04  

I mean any anything you want to get into that helps people move forward, whether, okay, duck, whether they can’t get started, whether in a perpetual cycle of not accomplishing goals, making commitments to themselves, and this covers everything. I don’t care if it’s weight loss. No, I

Sharad Mehta  4:26  

love that. I absolutely love that topic, that whole space,

Patrick Precourt  4:29  

you know, okay, basically getting out of our head and getting at it, you know.

Sharad Mehta  4:33  

Okay, perfect. Yeah, no, let’s jump. I love that. I love that topic. I i It just somehow I feel like be get that question in. Like, you know, people are starting about really say, Hey, how did you get over that fear of doing the first deal, which seems like a lot of people get stuck in. So, yeah, okay, let’s, let’s jump right into it. So I think this is going to be a great podcast. All right, let me just make sure it’s recording. All right. Cool. Get started. Let. Point, two, three. Hey guys. This is Sharad with REsimpli, host of the REsimpli podcast, bringing your super special guest, Patrick precode on this podcast. Patrick, welcome to REsimpli podcast. How are you doing?

Patrick Precourt  5:11  

I am doing fantastic honor to be here and excited to have a conversation with you today. Absolutely.

Sharad Mehta  5:17  

Patrick, thank you so much for being a guest on our podcast. I’m super excited to get into your journey, your experience. So tell us a little bit about yourself. Where do you live, and how are you related to this crazy world of real estate?

Patrick Precourt  5:32  

Well, I live in little town called Cromwell, Connecticut, little town, so we have 10,000 people in our town, just to put you know, perspective to it right, which is in the center of center of Connecticut, how to get in real estate. So I get in real estate long time ago, late 90s, started my first deal as a lease option type deal, and took off from there. And, you know, 2000s got really heavy into the short sale space and ran that for, you know, almost to that up to 2012 for a long run in that spaces, you know, as we all know, the history of what happened during that period of time, got into real estate, education and speaking and seminars and all that during the, you know, 2000 789, period. And in that time I migrated, started making a migration out of teaching people information to understanding and helping people apply the information. Because I’ll be honest with you, try. We had a big education, yeah, we had a big education companies. We had a lot of large laboratory, 1000s of people, and small percentage of people would be successful with the information that we provided. And the information was solid. It was good stuff, you know, right? And I started connecting the dots between the idea that every time we don’t achieve something or don’t get what we want, we, by default, believe that we need more stuff. We need more information, knowledge, training, seminars, clues, tips, blueprints, whatever it may be we feel we’re lacking content in some way, when, in fact, that’s not the that’s not the gateway to getting results and achieving and success and, you know, reaching our goals. You know, there’s a whole nother side to it. That’s us actually applying the information, converting the information into knowledge through the application and then filling in the pieces. And it’s those pieces that we get hung up on. We always think that, man, if I just knew this one more thing, then I could, I could get right at this right. And we always think there’s more to know, but those things that we feel are missing often can only be discovered by doing. Does that make sense?

Sharad Mehta  7:44  

Yeah, it does need that’s you think that’s human nature, but you think that’s something more relevant to real estate that you know bogs down investors.

Patrick Precourt  7:56  

Yeah, no. Has nothing to do with real estate. It has to do with being human and the overwhelming fears that creep in when we’re doing new things and things are changing. So fear, fundamentally, is all. Fear is anchored in just not knowing, right, anything we’ve ever been afraid of or are afraid of it, just in not knowing the outcome and the outcome of the what if this happens? You know, the fear of failure, loss, judgment, all of that’s just it’s because we don’t know and we don’t like uncertainty. It’s a part of our human DNA that makes us uncomfortable, right? So in order to mitigate the not knowing, we’re like, Well, if I just knew more stuff now than I would know the outcome of what I’m about to do, right? So we keep looking for more information to try to solve that. And like I said, the The only salvation is not through studying more learning more, it’s through doing more, and it’s the fastest way to move forward. That makes sense?

Sharad Mehta  9:02  

Yeah, it does. It does. I’m absolutely fascinated by this topic, so I’m so glad you’re on the podcast. I love talking about this stuff. How did you get to this point where you you know? Where do you determine that? Okay, we have these 1000s of students, you know, coming in through our funnel, through our pipeline. But maybe, I mean, it’s just the nature of the business. You know, it’s real estate investor. You will have 100 people want to be investors, but maybe two or three actually end up doing your deal. So is that, like you were looking at your numbers of how many people are successful? How did you get to that point where you’re like, Okay, we gotta do something more.

Patrick Precourt  9:38  

Yeah. So my role in our education company, because I was in charge of coaching, I was in charge of fulfillment of the product, so I wasn’t responsible for marketing and I wasn’t responsible for sales. I was responsible for the student body. So I took it personally, you know? And, yeah, I had to create some barometer of success, because, like, what? Who’s to say, what is success in something new, a new endeavor, right? So my barometer was simple, and I’m not saying it’s right or wrong. I had, I had to have something, but it was, did you liquidate your investment in education in the first 12 months of the program? Okay? So whatever you invested and where I how I came up with that shroud was, I compared it to college, right? You go four years in college that, and then you get a job, and it may be years down the road till you can liquidate that debt, right? So in my mind, if you could invest in education and in one year, which is also during the process of being educated, you actually liquidated that investment. That’s a success, because now you can just

Sharad Mehta  10:47  

go repeat, just to be clear, by liquidate, you mean, let’s say if I invested 20,000 in the education program, I should make at least 20,000 during the first 12 months to recover the money that I’ve invested, basically recoup my capital that I invested in the education program,

Patrick Precourt  11:03  

correct. Okay, and again, I don’t, I’m not saying that is the perfect parameter of success in education, but

Sharad Mehta  11:11  

to me, I think, I think it’s absolutely, it’s very unique, and absolutely love that like you. This is very refreshing to hear you taking that on yourself to make sure that, you know, you set some sort of a deadline. Otherwise, you see, you know, I I’ve been investing for more than 10 years. I remember going to like, couple of these webinars very early, you know, 2009 10, where they would just tell you, Hey, go to the back of the room. And they were trying to, like, sell stuff to you, but there was no, you know, sense of urgency. Hey, we’re giving you this stuff. You’re paying us money, but we want to make sure that you get your money back. You know, you make you get successful out of so I think it’s absolutely refreshing to hear. So what were your numbers like people, you know, that were coming to

Patrick Precourt  11:56  

the success rate?

Sharad Mehta  11:57  

Yeah, what was the success rate?

Patrick Precourt  11:59  

It was, it was less than 10% and, yeah, that’s what that part didn’t sit well with me, yeah. And actually, that’s what pulled me out of the real estate education space and the deep dive into what I call peak performance and and the science behind human behavior. And you know, for the past 13 years, that’s pretty much my been my exclusive focus, why people do what they do. And so what

Sharad Mehta  12:25  

did you What did you notice? So you notice that people were just in this loop of, hey, I need more, more something, more more time, more education, more information, right? Is that what you notice, like people, that was a piece of it.

Patrick Precourt  12:43  

Yeah. So there’s a little more complex than that, right? And, and as we go forward here, I’m going to, I’m going to use some so my experience in the health and fitness space, as well as as examples, because it’s another perfect industry where the failure rate is through the roof, right? The percent of people that fail at achieving their health and fitness goals relative to the amount of time, money and effort that’s spent there, is ridiculous, right? So in in 2012 This is why I’m equating to that, we opened a gym called the cage, and it became a whole nother laboratory for testing out different constructs that got people to do things that they wouldn’t do on their own. So here’s the ultimate challenge we’re up against. When you know what to do, that’d be all the education you got, right? You know it’s good for you, the outcome and you deeply desire the results. You would think that would be enough to get you to do it? The answer is not. And proof is in the you know, look at the health and fitness industry. No one, no one doesn’t know how to lose weight. Shroud, it’s so that information is so readily available, particularly today, with with the AI tools that we have at our disposal, you could put in your age and your weight and your fitness activity and your and it will prescribe precisely a nutritional plan and a physical workout plan for you. So that’s no longer an excuse. You can’t say I don’t know how to do it, and the other parts automatic, and you want the results you know they’re good for you. So my expertise has been focused on filling in that little spot right there when those three are in place, you know what to do. You know it’s good for you. Deeply desire the results. What does it take to provide to do the consistent behavior, to produce the results? And this is this. I had to go through that to get to answering your question. So it’s much more than just wanting more information. There’s a lot of stuff that gets in the way. I’ll bring in the word beliefs, because people bring up mindset all the time, and I think mindset gets a lot of get a lot of misdirected Credits. Ehsan rishat, meaning that your mind is set, literally. That’s a mindset is a literal word. Your mind is set and you can’t change it. It doesn’t work that way. If it could, then you’d you’d immediately overcome your spider phobia, or your height phobia, or your or your dislike of a certain food. If you could just change your mind, it would happen like that. But we can’t change our mind. What we can do, though is look at what causes mindset. Mindsets a lag indicator of our beliefs. So if you believe shroud that you can’t run a marathon, a 26 mile race with six months of training. If you genuinely believe that to be true, it’s true, and your mindset will reflect that, because you say, I can’t do it. I’m not good enough. I haven’t trained it. I’m not fit enough. I’m not, you know, I don’t have enough endurance. Everybody say, Well, if you just change your mindset, then you’d be okay. Like, no, you’ve gotta change what’s causing that mindset. And that’s deep in our beliefs. And this fundamentally now becomes where the work is done, because you take people who, let’s say, join a real estate education program more times than not. They’ve joined other programs prior, right? They’ve been through this game before, and the challenge is not that the program doesn’t work, it’s that they don’t work the program, and they’re kind of dead in the water before they’ve even begun, because fundamentally, there’s a belief that they have that no matter what I pay for, no matter what education I get, I’m still not going to follow through with it because I never have and I’m going to get the same results where I’ll just end up quitting. So no matter how good the education is, the working on the wrong side of the equation. Does that make sense? It

Sharad Mehta  17:02  

does. It does? You know, this is something I’ve struggled with in the past. Do you think people also don’t give their 100% to trying, because they have this fear if I give 100% and I still fail, then there’s nothing like there’s there’s no excuse that I have. You know, deep down, I, I believe people know whether they’re giving their 100% or not. You know, they might tell other people that, hey, they’re giving 100% but they might only be, you know, putting 20% effort. But they, deep down, know that they could do more, but they don’t. Because I, at least, I used to have this fear, okay, if I get by 100% and I still don’t succeed. Then I basically, then, then I have to accept that it’s out of my reach, but if I don’t get by 100% then at least to myself, I can make this succeed. Oh, you know, I could have done that, but I didn’t make my you know, I didn’t give it my full effort. Do you notice that is that something people struggle? I hear what

Patrick Precourt  17:58  

you’re saying and what you just described are just simple, simple belief constructs that you have, right, that get in your way. You’re like, well, what’s 100 who’s to say you’re 100% today? Isn’t only 90% tomorrow. Because you’ve already just, by doing this, you’ve increased your potential. So you just the limitation you put on yourself by saying, if I give it my 100% and I fail, I’m done. No, you’ll grow from that experience, and your next 100% will be a heck of a lot more than this 100% this is an example, okay, but let me. Let me go back here a sec, right to the word try and do you think when a six year old child is presented with the opportunity to learn how to ride a bike, that in their mind, they go, man, I’m gonna I’m gonna try that. Because you gotta remember what a riding a bike meant to us. It meant, yeah, becoming a big boy or big girl, level of freedom and respect and status. It, man. I

Sharad Mehta  19:10  

mean, I can, I can tell you, I just thought my son how to ride a bike, like, he’s seven, so I taught him how to ride a bike, like, three months ago. He he, he just had to get it done. He just had to get it done like, every day, like that. Let’s go. Let’s let’s try it like, let’s use this. Let you

Patrick Precourt  19:26  

just went through that experience kind of helps make the point here. He didn’t try to do it, yeah, he just did it. Meaning there was no pop, there was no option for not learning how to ride a bike. It was just,

Sharad Mehta  19:40  

yeah, he seems, what’s that he’s going through the same thing with swimming now, yeah, yeah.

Patrick Precourt  19:47  

What if it still started to approach the things we wanted the same way? No, we’re not going to try it. It’s going to work out, and we will fail along the way. We’ll fall, we’ll scrape our knees, we’ll get a little might even shed some tears. But it’s not like we can quit, because that’s not part of the equation, like not succeeding is not part of the equation.

Sharad Mehta  20:09  

Oh, I love that. People don’t have that mindset because the desire isn’t deep enough. Is that the

Patrick Precourt  20:19  

issue? Yeah, so I’ll slightly alter that word to meaning right when, when something means enough to us, we’ll do it every single time. And conversely, if it doesn’t, as soon as it gets difficult, we won’t. And let’s, let’s say you and I were walking down the street together, okay, we’re just having a conversation like this, and we come upon a house over here that was on fire, and it was like it was raging, but the fire trucks weren’t quite there yet, you know? And they go, Hey, try. I’ll give you 100 bucks. If you run into that house, fill this glass with water out of the kitchen and come running back out. And you’d be like, No, Pat. That’s stupid. And you’d be right, I go, how about $1,000 you’re like, No, no. I’m like, alright, what if it was a million dollars? Rod would you run in, fill that glass with water, come run out. You’d be like, Pat. Just stop, because there’s no there’s nothing you could do to get me to run in that burning house. Nothing. Because, why? Why would you ever risk your life for money, right? Fair enough. Now, same scenario, what? What’s your boy’s name? Vihan

Sharad Mehta  21:29  

Rehan vihan, with the victor V as

Patrick Precourt  21:35  

in vihan, vihan. Okay, so we’re walking along having the same conversation, same house, same infernal but this time, the only difference is you can hear V Han’s voice, Fear, screaming, screaming for you dad that helped come save me, and you now know that the only way he’s going to survive is for you to go into that burning house and save him. Is there anything I could do that would stop you, oh, nothing from going in and saving him. So we just this is an important takeaway for everybody. Same circumstance, burning house. In one scenario, there’s nothing I could do to get you to do it. In the second scenario, there’s nothing I could do to get you to not do it, and the only thing that changed was the meaning in the equation. That’s how powerful meaning is in everything that we do. But doesn’t mean enough. We will stop when it gets difficult, but if it means enough, there’s nothing that can stop us from doing that’s why kids always learn how to ride a bike. It means enough to them.

Sharad Mehta  22:47  

Yeah, I love that. Patrick, absolutely fascinating. All right, so we understand why investors or people that are looking to lose weight don’t get to that point, right? How do you how do you get that belief? How do you develop that belief? You know, some people just have it. Is it because their Why is big enough so they figure out the how? Or, you know, people that don’t initially have it, how do they build that belief? Yeah,

Patrick Precourt  23:17  

good question. Because as adults, let’s just say we have, well, I see every human, every adult, has limiting beliefs, without exception. Okay, it’s just a matter of when and how they show up, and are we aware of them. So everyone has, because we get so many beliefs programmed into us that weren’t good to begin with, and other beliefs that we just outgrew. Okay? So as an adult, we don’t just adopt other people’s beliefs. We don’t freely let somebody just plant one in us like software. We need new evidence to override our old belief, to establish a new belief. So then the question is, how do we get new evidence? Now take somebody who has, you know, has always failed at losing weight, and I’ve had I’ve heard the same words 1000 times, Pat. I’ve tried everything and nothing works good. They what they’re saying is, I’ve tried everything and I don’t work. So let me focus on you working. Then forget about the damn product for a second. And what this now requires is some and I’ll get to the construct that gets this to happen, but some sort of construct that applies enough pressure to get you to perform the behavior that we’re trying to create a pattern around. Right? So this is all about. This is a result I want. These are the necessary daily behaviors slash habits required to produce those results. Okay, good. Let’s, let’s focus on creating enough leverage to force those habits to take place up and until we start seeing new evidence that, yeah, I can. Do it, and it does produce results. And now what we’ll do is simply, by default, subconsciously, replace that old nothing works belief with now I do work belief, and it happens automatically with the new results, but we can’t get it studying, we can’t get it seminars. We can’t get it reading a book. We have to take the action. Now, here’s the leverage, here’s and this is a part of human behavior that becomes ruthlessly predictable, right? There’s an internal scale that we all have, right? It goes like this, pain of staying the same versus the perceived pain of change. When the pain of staying the same outweighs the perceived pain of change, will take action. So an example would be, this guy would not stop eating McDonald’s every day, three meals a day. No matter what happened, he wouldn’t stop eating. And he’s way overweight. He’s 150 pounds too heavy, and he can’t breathe, and his blood pressure’s through the roof. Still wouldn’t change until he had a heart attack and he died for 30 seconds. All right, the pain of these behaviors is finally heavier than the perceived pain of change. Now, perceived is important. Whenever we think about change, our default position is no right for all the reasons we’re talking about earlier in the show. You know the fear of loss, failure, judgment, all that kind of stuff, we just default to no so we make the change in our mind seem much more difficult than it actually is. We go through all these scenarios. Well, man, if I start, if I gotta lose weight, then I gotta get a gym membership, and I get a personal trainer, and I gotta get a babysitter for the dogs and the kids, and then I got to order my food differently. We we create this monstrous list of things that become so overwhelming that the pain or the thought of that change outweighs the pain of staying the same. Okay, now the trick here in this construct is to re manipulate the scale. Let me talk another piece about pain for a second. Right? You and I as children were taught that pain is bad, so immediately, we first try to avoid pain. Then if we can’t avoid it, we got to anesthetize it, make it go away. And that might be anything from aspirin to anything else that makes pain go as adults, emotional, mental pain. Oftentimes it’s is weed or alcohol, but either way, it’s pain avoidance, right? When, in fact. And here’s an interesting, really important point, pain is the some of the greatest guidance and insight will ever receive from the universe. It’s perfect. It’s timing is perfect, and it’s exactly what we need to hear in the moment. So in other words, when pain shows up in our lives, whether it be physical, mental or emotional, we should immediately. Instead of avoiding it, distracting from it, anesthetizing it, we should stop everything and lean in see when we lessen the pain, we lighten that scale, and we trick ourselves into staying still, staying stuck. When we lean into it, we actually feel the pain. But here’s the reward. When you lean into your pain, you get specific instructions from the universe immediately on exactly what you need to stop doing and what to do next. You can’t get more brilliant insight, yet we hide from it. So summary, here’s our scale, and the goal here is to feel our pain. Because when the pain of staying the same, doing the same behaviors over and over and over again outweighs that change will start to change, and this is how we override those broken beliefs Sharad that are holding us back, that are limiting us, those beliefs that, yeah, I’ve made this promise to myself before, and I didn’t, I didn’t keep it. I broke my promise, and I probably will break it again. Okay, good, fine. We all, we’ve all done that, but now we’ve got to create new evidence that you can actually make a promise to yourself and uphold it. Can I add one more little piece of this? Yeah, of course, this whole thing, yeah, this is important too. When it comes to change producing results, goals, right? It’s important to know a couple things. We already talked about meaning. The goal has got to have meaning. So you should ask your ask yourself, when achieving a goal, setting a goal, the goal is immeasurable, but what we want to focus on, what is the result of that result? What does it mean to us? That’s what the emotion comes from. That’s what the fight and the passion and that fire comes from. And we need that to get through the hard stuff. Okay, now let’s look at a really simple construct for goals and how we start reshaping these beliefs in a way that we can consistently see results and progress forward. Look at the goal that you know I don’t. If you want to be the goal, the guru version, the big, hairy, audacious goal, right? That’s at the top of the ladder. It’s way up, way up here, okay, but I don’t want you to focus on that. I want you to put that up there so that you can put rungs on your ladder. And rungs represent the steps required to produce the goal. Okay, these are the behaviors we gotta execute on a daily basis to produce that result. So we have the goal. We have the rungs on the ladder now, once that’s complete, now it’s simple. We only focus on the next rung. You see oftentimes, right? We set this goal, and the damn thing’s above the clouds, and we keep looking for it, we can’t even see it. It ain’t real. We don’t believe in it. It’s too big. And when you don’t believe in it, you can’t act on it. However, when we focus on the very next rung, you’re like, yeah, that’s possible. And the word possible ignites the human soul. We don’t need guarantees. All we need to know is that something is possible. And man, we come on, we come alive, right? And when all you do is look at the next rung like, yeah, that that I can do. So back in our gym for a second, I had a gentleman who wanted to run a 5k he wanted to support his wife. He hadn’t done anything since his 20s, is in his 40s, the whole same thing, Pat, I’ve I’ve tried everything. Nothing works. I gotta lose 40 pounds. And a long story short was we set up the 5k had to be able to run it in six months. But his rung started with one mile a day for the first five days. That’s it. That was, that’s what I needed him to focus on. And all we we weren’t worried about the 5k we’re worried about him rebuilding trust in himself that he can do what he says he’s going to do, and all the while, we’re making progress towards the goal he wanted. Make no mistake, this is not wasted time, but the powerful part is rewriting the belief system underneath it. Does that make sense?

Sharad Mehta  32:02  

Yeah, no, no, it does. It does. I mean, I like, right now, I just recently, last week, I started doing code plunge. And the place that I go to, they keep the water at 3940 degree, okay, initially, when I went in, I’m like, oh, there’s no way I can send in it for more than a minute, you know, but the instructor, the way they have set up it like the first day, you they require. They’re not required, but they really encourage you to sit for at least three minutes. And then once I sat in for three minutes, I’m like, Wow. I came in with this belief that I could not do it for more than a minute. It’s pretty cold water, but I sat in it for three minutes, and after like 30 seconds of the pain, that’s pretty comfortable. Yeah, yeah, I was pretty comfortable after that. And then, like, I went there yesterday, and I, I was in the water for like, 1213, minutes, and I was like, Yeah, this is this actually feels pretty good, but So going back to

Patrick Precourt  33:01  

try that’s a perfect example where you had to produce new evidence to overwrite an old belief. Yeah, because you know what, I couldn’t have called you up and said, Hey, trust me, you can do it. You’d be like, No, I can’t do it. Yeah, fundamental. You may even say I could do it, but you wouldn’t believe you could do it until you got the new evidence

Sharad Mehta  33:23  

right perfectly. So for someone you know, who’s, let’s say, real estate investor, right, and they’re struggling to find their first deal, which is, like majority of the investors out there, what would you suggest they do? Just, you know, they set up this their big, hairy, audacious goal is to get their first deal right, that that is going to be the stepping stone for their future success. But in order to get their first deal, do you suggest them that they focus just on the things that they control, the inputs like making offers or calling leads and then just making offers like that’s, that’s the part that you control. How would you get someone from zero to one?

Patrick Precourt  34:08  

Yeah, so you bring up focusing on things you can control. There should be nothing else that we focus on but the things that we can control, period to to put any energy into something that is outside of our control is akin to creating a self treason, meaning that that energy now is being pulled out of your coffers and put out here and wasted. So you’re depriving yourself of being all that you’re capable of being. The second you start focusing on something you can’t control, and one thing that sneaks in all the time, and I mean, like, I know this stuff, but I still do it myself, right? But I’m aware of it, is anytime we start worrying about a future event period. Future event is a made up experience does not exist, which means we can’t control it. So the more. Moment we are our focus goes to the future. Sharad about and we worry on something, we’re creating a treason against our success. So I just want to kind of throw that in there. So if I was starting out and I got to get that first thing first, choose what that you got to put up pin on the map, right? You have to have the you have to have a defined goal, otherwise it’s virtually impossible to to achieve. Like, for instance, if I if I wanted to go visit you, and you said, Hey, Pat, come visit me. I said, All right, I’m coming, but you never gave me an address, I would not get to where you’re at. But the moment you give me an address and I put a pin on that map, I can create the perfect blueprint to get to you now, it may have some glitches along the way, road closures and weather and all this other kind of stuff, but I’ll get there right? So I’d say, start, start the exact same way. Maybe it’s the first wholesale deal drive. Maybe it’s the first contract. Well, it doesn’t matter what it is. What matters is the process to go to it. So you start with the outcome, right? And then it’s really, really important that we understand, or when I say understand, that we’re truthful with where we are today, right? A lot of people say, Man, I can’t do what he does, because he has all this other experience. Well, we’re all freaking adults for the most part, right? We all have life experience. Very little of, and you know this for a fact, very little of real estate success has to do with real estate has two people. So I ask people all the time, like, have you been around any people? Right? That’s a much bigger part of this game. So don’t play, don’t play that game in your head. Like, I don’t know enough. I’m not good enough. I don’t have enough experience. Just take that right out. If, you’re okay with helping other people, making their lives better by their interaction with you, boom, you’re in the right place at the right time. So put the pin where you’re at. Put the pin where you want to go. And now here’s the key part. This is called strategy, but I’m going to define a little way. You make a list of all your resources, and you make a list of your resourcefulness, and you use those two ingredients, sets of ingredients, to connect the dots between where you are and where you want to go. And what’s important there trod is that oftentimes, we’ll either make a plan or will adopt a plan that we are incapable of executing because we don’t have the resources of the resourcefulness to do it. Now I will share the idea that every single person listening to this has enough resources and resourcefulness to do their first deal. If that’s what is on your agenda. Absolutely without exception. I can say that so competently, because I’ve dealt with literally 1000s of investors that went from never having been a real estate investor to doing their first deal. Okay? Now you have different resources, you have different expertises, you have different personalities, different levels of resourcefulness, but you have what it takes. The missing link, the part that’s challenging, is the doing the work, the actually making the phone calls, banging on the doors, driving around and finding vacant houses, then in doing or to look them up and reach out to them. That’s the hard part. Does that make sense? Sharad, right? And that’s if, if, if I, if somebody came to my doorstep today, today’s what Tuesday needed a deal by Friday, it would be in that space. They’d be on the ground pounding away. They’d be making outbound phone calls. They’d be texting people, you know, who do you text? Anyone, everyone? And if it’s not if they don’t want to sell their house, asks if they know someone who might want to sell their house. People need solutions right now, I know you know this, right? And they need investors to step up and provide those solutions. All you gotta do is reach out and connect with them, but doing the work. And the last part I’ll say is there’s still questions that you have, and I understand that, but those questions will be filled in as you’re doing the work. You’ll get constant feedback, and that’s a something that you’ve gotta make part of the process a feedback loop. So here’s something I use as a little personal tool. And you can apply this to an a singular event, where you can apply it to wrapping up the day or wrapping up the week, wrapping up the quarter. It doesn’t matter. It’s a debriefing exercise, and it’s super simple Schwab, but it gives us, gives us marching orders to move forward on it’s most effective when we really screwed something up, really bad. But it goes like this. I five simple steps. One, what just happened? And you just recap the you put a title on whatever it is you’re about to debrief. Well, I made an outbound call to a home seller, and it started to go really good, but then the husband jumped on the phone, he screamed at me and called me names, and I started crying. Okay, good, excellent. Alright, that’s what we’re going to debrief. Then you go through this four steps, what worked, what didn’t, and you’ll have items in both of those. Those are data. The next one is analysis, which is what did I learn? This? Requires you to stop and think about the learning lessons that came out of the experience. And then finally, this is our marching orders. What am I going to do differently tomorrow? And that’s where we summarize, summarize that little experience through the data collection and the analysis. And once we have that marching order, we can throw out the rest of it and move on and just keep moving forward. And you do this every day or multiple times a day, the growth curve goes like this, goes straight up, versus letting experiences happen and come to pass and not changing our behavior or knowledge or are going forward out of it? Does that make sense? Yeah,

Sharad Mehta  40:42  

no, it does. It absolutely does. And it goes back to, I talk to investors all the time at the end of the day, you know, like, similar to your point, you mentioned that you set this goal, and then after that, you almost have to forget about the goal and focus on the daily habits, the daily actions that you need to take. So like, putting it in a context with someone who’s 300 pounds and wants to get to 200 pounds, yes, you set that goal, but after that, there’s no need to jump on a, you know, weighing scale every day, you’re not going to be 200 pounds the next day. But like, if you set a goal off, hey, I’m going to walk 10,000 steps every day I’m gonna, you know, monitor how much you know food I’m eating or what I’m eating, and that’s, those are the two levers that you control. And then you just do that every day. You walk 10,000 steps, and you eat healthy, then you maybe check in a week or two weeks later to make sure you’re going in the right direction, right right? And then that’s, that’s kind of how I look at my real estate investing. Because I live in California, I invest in Indiana. I haven’t seen any of the flips that I I do in like three, four years now. And this year, you know, we’re going to do about 2530 flips. I personally make about 400 500,000 out of it without me really doing anything. It’s my team. And then my project manager lives in California. My Acquisition Manager lives in Philippines. We don’t even have anyone local in the area, but it’s, but we’re very particular about the daily actions that we’re taking. That’s, that’s the stuff we control. I mean, yes, of course, there’s things that go wrong. You know, after we sell a house, we just had a $4,000 plumber bill come up because the sewer was, you know, like they had some issue this year. But that’s just part of learning curve. You know, when you next time, when you buy a house, you learn a little bit from the previous mistakes you made, and then make sure you don’t repeat the same mistake. And it’s just iterative process. You keep getting better and better at it every single day. So yeah, absolutely 100% agree with what you said, and it’s been absolutely fascinating to talk about that with what you’re doing now. Are you focused? Are you still working with real estate investors? Are you focused more on healthcare industry or, like, personal fitness industry, like, what are you what are you noticing that’s working for investors with their mindset as they’re just getting them to focus on the daily habits? Is that the biggest challenge you run into?

Patrick Precourt  43:14  

Well, there’s a lot of challenges. So my general category is entrepreneurs, and I do a lot of work, specifically with men in there, and I work with everybody, but I do a lot of work with just men too, you know, so we go through, so we’re talking about a lot of the early onset challenges in entrepreneurs. See, now, there’s later challenges too, finding purpose and meaning in life, and those kind of things that you know, I work with a lot of entrepreneurs who you know, from one person’s perspective, they’ve arrived these people, but they’ve arrived and now are more unfulfilled than they’ve ever been in their entire career, you know. So work with everybody across that whole spectrum, and I guess, in context to this conversation, has nothing to do with fitness world or real estate investment, anything like that. Humans are humans. Human behavior is ridiculously predictable. Shy of some sort of mental challenge, there’s almost nothing we can’t get there’s nothing I can’t get a human to do, provided they know what to do, they want it and they know it’s good for themselves. Those three ingredients, right? The rest becomes very mechanical, and that’s why I call what I do evidence based personal development. Because as you probably know, the personal development space can be kind of fluffy and intangible at times, so I like to make it very mechanical and measurable, and it genuinely is. You know, let me before I end up. Let me bring up one good point that you said it. I just want to make sure people didn’t miss it, right? And I’ll use. Again, the weight loss, just as an example, if your goal is to lose weight, the weight should not be the measurement that you’re so in tune to the behaviors necessary, consistent, repeated behaviors necessary to produce the weight loss is what we should measure, and that’s what we should hold ourselves accountable to. You know, you know as well as I do, is rod you can make 100 outbound calls and you may get 100 no’s right, so you can’t control them, but you can control the fact that you’re making the calls right, and over time, the numbers will work out in your favors, just a numbers game. So our self, our value each day, should be measured in the success of the execution of the behaviors that we agreed to do, not in the outcome of that that will come. And I’ll share this one other thought, that the only thing different between you, meaning this everyone’s listening between you and that person that you want to be, meaning that person you look up to or you compare yourself to. The only thing different is their daily behaviors versus your daily behaviors. That’s it. It’s no more complicated than that. I know you want to think that they’re smarter and they have more resources and many more years of experience. They’re all contributing factors, but that’s not what makes it happen. What makes it happen is the behaviors, the execution that they take every single day. And that’s where, if you want to see change in your life, that’s where our focus has got to be,

Sharad Mehta  46:41  

Patrick, 100% like the last two three minutes, or what do you say that is the secret to success? Like focusing on the input that you put in, and that’s it. Like, just do that day in, day out. It’s impossible for you not to succeed. It’s impossible if you’re doing the right things, like if you’re walking those 10,000 steps every day, and if you’re eating healthy, it just it’s just a matter of time before you get to the weight that you know you want to get to. It’s impossible not to get to that. So absolutely fascinating conversation. Patrick, thank you so much. We have couple of last questions to ask you. Yeah, what do you do for fun?

Patrick Precourt  47:21  

What I do? Wow. So this may not be exciting to other people. Okay, so one on big boater, we do a lot of boating, and that’s just, I’ve been boating all my life. That’s a big thing for me. In the winter, we live in the northeast, so in the winter time, one of the favorite things my wife and I like to do is go out and find live music, like small, little one and two man bands. We love that type of music. And then my solo hobby that so this is outside of my physical, like athletic role of martial arts and rugby and all that kind of stuff. Which artist went when been a rugby player for many, many years and got involved with martial arts, fighting, MMA cage fighting, later in life, and those will always be a part of me, both my solo hobby life, when you just want to be by yourself and just be I love work. I have a collection of old land rovers that I love wrenching on. I love working on them. Yeah, I’m not a very good mechanic, but I love doing it. Yeah, no,

Sharad Mehta  48:20  

it’s, you’re getting better every day. You know, what’s the one book that’s had the biggest influence in your life? It could be a business book or personal book, or one of each

Patrick Precourt  48:32  

or, you know, there’s no one book, right? Yeah? Um,

Sharad Mehta  48:36  

like, right now in your life, if you want to, like the one that you can think of recently that you read?

Patrick Precourt  48:41  

Yeah, so I’ll give you one that I always go back to, okay, and go back to for a number of reasons. It makes me think, and it’s written in parables, and the parables are usually a page and a half or two pages long, so you can just open the book and start right there at any given time, but it, it, I like to, I like to think, like deep thinking, and it always triggers a direction for that. It’s the book is called The Warrior of Light.

Sharad Mehta  49:15  

The Warrior of Light, Warrior of Light, right? Thank you for that. Yep, definitely super,

Patrick Precourt  49:21  

super cool book. Yeah. Final

Sharad Mehta  49:24  

question, if you could spend a day with anyone, dead or alive, who would you want to spend the day with and why? Wow,

Patrick Precourt  49:38  

without putting much more thought into that, I probably would bring my dad back for a day. I find so my dad passed on a better part of 12 years ago. I think still, I don’t think a day goes by where I I don’t want to ask him a question.

Sharad Mehta  49:54  

No, great answer. Yes, yeah. Thank you. Thank you for sharing that. Yeah. I. Patrick, this has been absolutely incredible podcast, probably one of my favorite. If someone listening to this wants to connect with you, learn more about your journey. What’s the best way for them to do that? Yeah,

Patrick Precourt  50:11  

so the easiest way is just to find me on social media. Just my name, Patrick Precourt, you’ll find me or my son, and you’ll probably be able to tell the difference. And I’m using easy to reach. And if anybody ever has any questions or wants to reach out, you know, just, just message me to any of the platforms. I’m really easy to get hold of. That way,

Sharad Mehta  50:28  

perfect. We’ll put links to all of them in the show notes.

Unknown Speaker  50:31  

That would be.

Sharad Mehta  50:32  

Thank you so much for coming on the podcast, sharing your experience, sharing your journey. It’s been absolutely incredible. Thank you. I

Patrick Precourt  50:38  

appreciate it. Thank you for having me. You.