Turning Around 35 Bankrupt Businesses, Lessons in Entrepreneurship & Life and more with Ward Schraeder

A natural handyman, Ward built and fixed things all his life, starting in his youth when he helped his high school football coach construct a modest home, and his father rebuild his grandfather’s ranch house. The family moved often as Ward moved up the corporate ladder, building a new house each time while living on the first floor as work progressed upstairs. Out of economic necessity, he “employed” his four children and taught them construction and the value of hard work along the way. Ward enjoyed the process so much that he continued remodeling homes with his children as his crew, teaching them everything from using tools to installing sheetrock.

 

Ward’s philosophy of “finding something broken, fixing it, and turning it into a success,” has translated to the acquisition of myriad businesses, many in states of failure at the time of his acquisition. His first experience came through a friend of his father-in-law’s seeking a manager for a supply distribution company that turned out to be on the verge of bankruptcy. With hard work and the utilization of resources born of necessity, the business survived and eventually thrived.

 

 

[00:01 – 11:02] Opening Segment

  • Ward talks about his TV Show, Bargain Mansions
  • A Variety of Business Fields Travelled
  • How Ward learned how to turn businesses around

 

[11:03 – 15:58] Lessons in Entrepreneurship & Life and more

  • Two Perspectives that Has Contributed to Ward’s Success
  • How Ward keeps his employees
  • People are happy when they are needed

 

[15:59 – 25:22] Turning Around 35 Bankrupt Businesses

  • Key Factors Considered in Saving Bankrupt Businesses
  • Every business is the same
  • What Makes Businesses Unique
  • Retirement versus Non-Retirement

 

[25:23– 34:25] Closing Segment

  • Quick break for our sponsors
    • The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com
  • What is the best investment you’ve ever made other than your education?
    • Investing in himself
  • Ward’s worst investment
    • Education, three businesses during his bankruptcy period
  • What is the most important lesson you’ve learned in business and investing?
    • “Do your research, do your work, do your math, do it 10 different ways.”

 

Connect with  Ward Schraeder through https://wardschraeder.com, Facebook, and Instagram.

 

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

Join our Passive Investor Club for access to passive commercial real estate investment opportunities.

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes                  

 

Tweetable Quotes:

“Every business is the same. Don’t let anybody tell you that they’ve got a unique business. That’s not really true.” – Ward Schraeder

“Manage your books perfectly.” – Ward Schraeder

“You learn by your mistakes. Okay. But, you also learn by your success.” – Ward Schraeder

About our Guest

Ward Schraeder

A natural handyman, Ward built and fixed things all his life, starting in his youth when he helped his high school football coach construct a modest home, and his father rebuild his grandfather’s ranch house. The family moved often as Ward moved up the corporate ladder, building a new house each time while living on the first floor as work progressed upstairs. Out of economic necessity, he “employed” his four children and taught them construction and the value of hard work along the way. Ward enjoyed the process so much that he continued remodeling homes with his children as his crew, teaching them everything from using tools to installing sheetrock.

 

Ward’s philosophy of “finding something broken, fixing it, and turning it into a success,” has translated to the acquisition of myriad businesses, many in states of failure at the time of his acquisition. His first experience came through a friend of his father-in-law’s seeking a manager for a supply distribution company that turned out to be on the verge of bankruptcy. With hard work and the utilization of resources born of necessity, the business survived and eventually thrived.

This episode is brought to you by Roofstock, the world’s largest residential real estate investing marketplace. Open an account for free and start browsing turnkey investment properties today.

We are also supported by You Need a Budget. YNAB is a different kind of personal financial tracking company. They’ll help you track and plan your money with your priorities in mind. Open your trial account today and give it a shot!

About the Host

Taylor on stage

Hi, I’m Taylor. I help busy professionals escape the Wall Street Casino and build wealth on Main Street by investing in real estate. I started the Passive Wealth Strategy Show because I realized that the typical “skip that $3 latte once a week” financial advice does not produce the life of abundance that so many Busy Professionals desire.

I help passive investors invest in multifamily and self storage real estate syndications through my company NT Capital.

Don’t forget to follow on Instagram @passive_wealth_strategies

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