A few years ago, I heard one of the most awe-inspiring business stories of my life. Joe Sitt, through his extremely hard work ethic, was able to acquire a renowned property in Manhattan even though he was not the highest bidder. He paid $2 million less than the highest bidder and the owner sold him the property. How is this possible, you may ask? Putting aside the fact the Joe is a credible buyer with a good reputation, it was because he—and other people from his team—called or emailed the seller every day for seven years. For seven years!

Hard work is often mischaracterized as just strenuous physical labor, but it can also be intense dedication, sharpened focus, an intricate study of the capital markets, repeatedly calling a prospect with news of an excellent deal, and so much more.

How many people do you know who would have implemented this superhuman work ethic like Joe and his team did? Odds are, very few people. You see, these Real Estate Titans work tremendously hard.

I asked Joe Sitt what had happened in his life to drive him to work so hard. How could someone be motivated to pursue a property for such a long time without giving up? He explained that when he was very young, back in the 1980s, he did a short internship in the real estate department of an Asian manufacturing company, and he got to work in Shanghai, Jakarta, Istanbul, and Manila. One important common characteristic he noticed with the different people from all these different cultures was their extraordinary work ethic. Back then, the economic disparity between the United States and Asia was much more pronounced than it is today, and this left an indelible mark in the core of Joe’s heart. If these people who had very little in their lives had such a rigorous work ethic, so would he. He had a new appreciation for the blessed opportunity that he had of growing up in New York City, and he made a promise to himself that would always give a superhuman effort to make things happen for him.

Robert Faith started as a sweat equity partner. He advises everyone entering the real estate business to put in the effort to find amazing deals they could never acquire on their own and bring them to investors. Other people will put in their money if you put in the effort to organize a deal that adds value to the people involved and the community at large.

The Titans are immersed in their work for a long part of the week. Most of them work six to seven days a week. Many of them work while they are on vacation—seeing, learning and strategizing. They work harder than their peers, and with a purpose that aims beyond their own success.

They are relentless in their work ethic; it never stops for them. When important moments show up in their professional lives like raising a new equity fund, taking their company public, or closing on a highly competed portfolio of properties, they will find a way to successfully execute those goals. Dozens—and sometimes hundreds—of serious problems will come up during their endeavors. But they will step up and work for however long it’s required of them.

Elie Horn often stayed up all night to close deals when he was getting started. If someone wanted to negotiate a contract at 4:00 a.m., he was there at 4:00 a.m. to close the deal.

Those who don’t know these Real Estate Titans sometimes call them lucky. Luck did not lead them to success. They continuously succeed because they have spent thousands of hours honing their craft and preparing for these moments of greatness. Like a top performing athlete in any sport. They demand more of themselves than anyone else could ever demand of them. They are always striving to be the best and continue getting better. Many of them work as hard as or harder now than they did when they were younger. When things get tough and don’t go their way, which will happen often, they will wake up earlier and work harder to make sure that they are successful in their mission.

No matter what the weather is like, no matter the time, these men and women are focused on their task at hand. That willingness to work while others are not is one of the differentiating points of those in the 9 and 10 figure clubs.

The paradox is that they don’t work because they have to. None of the Titans interviewed in this book need to work for money, they all have total financial freedom. They choose to work because of their love for the game and because of their “why.”

They Have a Purpose

What is at the core of these Titans’ impressive work ethic? They know why they want to achieve success. Gina Diez Barroso’s mindset is powered by having a “why” that is larger than herself. Her reason for working long hours, dividing her time between developer, educator, women empowerer, and full time mother is her goal of having a positive impact on the world. She is striving to change the status quo—the way it’s always been done—to the way it can be done exponentially better.

This serves as a great driving force to see every project through to the finish. This is the secret of success for everyone, regardless of profession or field of endeavor. Success is within reach for all who find their “why” in life. Your “why” is what motivates you to go the extra mile, put in the extra effort, and commit to do whatever it takes to achieve your objective.

Many of us find our “why” in providing a better life for our family or sharing opportunity with our friends and neighbors. These Titans are no different from you in that they share this trait and find great happiness and fulfillment in taking care of their spouses and children. They don’t live the extravagant lifestyles that one might expect. In fact, these Titans are not interested living in castles or collecting the most elite sports cars. Many of them have devoted a great deal of time enjoying experiences with loved ones that provide inspiration, fulfill personal dreams, and create magical moments.

These Real Estate Titans aren’t likely to post their family experiences on Facebook or flaunt them like some celebrities on Instagram. It isn’t likely that you will see them making large displays of opulence and extravagance. It is much more likely that you will see them make calculated decisions based on prudence and security. They have learned that value has very little to do with cost.

They understand that the secret to living is giving. They are very active in charitable works and in making an impact on the world that goes much further than their real estate companies or other businesses. This gives them a reason for pushing forward when everyone else has stopped to rest. Titans are pursuing a greater-than-life mission.

Elie Horn, for example, who signed the Giving Pledge originated by Bill Gates Warren Buffett, states: “As human beings, we will carry nothing with us to the other world. The only things we shall take are the good deeds that we accomplish in this world. We are in this world to be tested and each one of us must grant the fruit of his abilities. I make my pledge with pleasure, and the good feeling that I tried my best to give meaning to my mission in this world.”

Ronald Terwilliger is a great contributor to a number of different causes, especially affordable housing. He has announced a $100 million legacy gift to Habitat for Humanity and a $5 million gift to the Urban Land Institute to establish the ULI Terwilliger Center for Workforce Housing to aid in housing affordability. He also committed $5 million to Enterprise Community Partners to create 2000 affordable homes annually. The list goes on. “When you’re fortunate to build wealth in the housing arena and come from nothing,” says Terwilliger. “You have a responsibility to give back to other people.”

Chaim Katzman is another great philanthropist. For example, one of his many donations, this one for $25 million, was to build Beit Shulamit (House of Shulamit), a new cancer center in Northern Israel named after his late wife, Dr. Shulamit Katzman, a respected pediatrician and activist in the fight against cancer, who died of the disease herself in 2013.

Every Real Estate Titan in this book is involved in numerous charities and organizations that give them a “why.” These are the reasons they jump out of bed in the early morning while most people are still asleep. What is your reason for getting up in the morning?

There are many great books and lots of literature about how to find your “why.” But I believe the chart¹ shown in Figure 13.2, which illustrates the Japanese term “Ikigai” (literally meaning “reason for being”) can serve as a great way to begin finding how to identify and direct your passion. Ikigai is about finding fulfillment, happiness, and balance in the daily routine of your life.

Here are four important questions you should ask yourself:

1. What do I love? Is it your passion or do you consider it a mission?
2. What am I good at? Is it something you would do for free, and thus a passion, or is it a profession or vocation?
3. What can I be paid to do it? Is it your profession or vocation, or is it a hobby or creative endeavor?
4. Finally, what does the world need from it? Is it your creative expression or is it, coming full circle, something you feel called upon to do—your mission?

As you answer each question, remember that there may be more than one answer. Don’t filter yourself. Use the follow-up questions in each category to determine if an answer is closer to the center of the diagram or further away. Also, use them to determine whether the answer leans more in one direction or the other.

When finished, you will see that you have a scatter diagram. I printed out the diagram and used push-pins to locate my one- or two-word answers. That makes it easy to further define and correlate the data with the next round of qualifiers.

Once you have listed as many interests as you can, try to narrow down further by applying additional qualifiers. Based upon your answer, move the push-pin either closer toward or further away from the center.

• It should be challenging. Your personal Ikigai should lead to mastery and growth.
• It should be your choice. You should have freedom and autonomy as you pursue this calling.
• It should involve an engagement of time and belief.
• It should be something that boosts your well-being by promoting good health, fulfillment, and great relationships.

Passion

The “why” of the Titans cause them to be passionate about the work they do. They don’t see it as work but as fun. Richard Mack defines success in world of the real estate as daily doing and enjoying—putting in the hard work required to pull together a quality transaction. He calls hard work “fun!”

When these Titans go on trips, they are excited to see other projects, learn from other real estate or business experts, and study innovative elements from around the world. Their endless curiosity drives them to explore and learn new things all the time.

Many of these Titans shared with me that their average wakeup time is 6 a.m., and a few told me they rise before 5 a.m. Several worked throughout their career 16- to 18-hour days and on most weekends. A few attribute a part of their success to working when others don’t.

But they don’t just work hard; they also work smart and efficiently. Everyone has the same 24 hours in a day to do what needs to be done. Titans try to get the most out of every hour and every day. They understand that it’s not just how many hours you spend that matters but also how you spend them. It’s about achieving objectives and results. Note that this passion is not innate but is something that you can develop, just like muscles develop over time as a result of a prolonged and consistent exercise routine. You develop stamina and endurance when you make a habit of getting out of bed and getting started before your competitors.

The Lesson Kobe Bryant Gave to Jay Williams on Hard Work

Former NBA player (and NCAA star) Jay Williams shared this inspirational story. His team was playing the L.A. Lakers in Los Angeles during the regular season. For Williams this was an important game. His method for getting mentally and physically prepared for the game was to show up at the arena several hours before the game and shoot around 400 baskets to warm up his body and get mind ready.

The game was scheduled at 7 p.m. As Jay Williams tells it, he shows up at the Staples Center at 3 p.m. He walks onto the floor and there is Laker guard Kobe Bryant already warming up. Jay gets on the court, shoots his baskets, and decides he is done; meanwhile, he sees that Kobe is still working out. He is not shooting the ball in a relaxed way, he is performing game-like moves. Jay sits down to unlace his shoes and see for how long Kobe will keep practicing. After about 25 minutes Jay leaves, Kobe is still on the court.

That night during the game, Kobe destroys Jay and his team. After the game Jay realizes he needs to go ask Kobe why he works out like this and why was he warming up for so long before the game. Kobe replies to him saying, “Because I saw you coming on the court and I wanted you to know that no matter how hard you work that I am going to work harder than you.”

Although this is an example from sports it applies perfectly to real estate. The greats watch their competitors. They see the effort they put in and the challenges they overcome. They put in more effort and overcome greater challenges than the competition. That is the work ethic of a Titan.

Geometric Results

I have had the pleasure of knowing numerous real estate leaders who are ultra-high-net-worth individuals. They were all driven by a hunger to achieve many goals throughout their careers, but a few of them at some point got comfortable for different reasons and settled back. They lost some of the hunger, as most people at this level do.

The Real Estate Titans in this book, however, are as hungry today as they were when they started their careers. Some have allowed their success to make them even hungrier. When that hunger never goes away, and individuals pursue their purpose day after day, month after month, year after year, and decade after decade, the level of greatness and the level of results achieved get compounded and the final results are geometric, not incremental. I explain this principle with more detail in Lesson # 4.