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EP108: Climbing Out From Rock Bottom: How to Overcome $1 Million in Debt - with Steve Valentine

By Chris Peach

Steve Valentine is a third generation real estate entrepreneur. From his start in the late 1990s, Steve created a real estate empire when the market was hot, everyone with a license could sell a home, and it almost felt like printing money. Bill Gates was right when he said “Success is a Horrible Teacher” - this is exactly what happened to Steve. Things were going great, success seemed to be everywhere, and the business was becoming easier by the day. That was until 2008. In a blink of an eye, their business fell into shambles. They were way too far leveraged, couldn’t make their payments anymore, and lost everything. Not only did they lose everything, but Steve was also facing over $1 million in debt - with a large majority of that debt owed to family, friends, and business partners. He and his wife were completely broke, without an income, and had two young boys at home. They had become the example of “what not to do in business” and it was as transparent as can be - everyone was watching them and everyone knew what was happening to them. Steve had a choice to make: do nothing or take massive levels of action. In this episode, Steve and I talk about... What happened? Why did he fail so badly? What did that failure “feel” like? How was he able to bounce back from the lowest point in life? What was the greatest thing he has learned about failure Failure is often followed by success - what does Steve’s life look like now What changes did he make so this wouldn’t happen again All the show notes, links and anything Steve and I mentioned can be found at https://www.moneypeach.com/session108

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