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Segment: We Don't Know It's Just a Season - I Lost It All in 2008

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What happens when you go from driving a yellow Hummer that's the only one in the entire country to walking barefoot through the streets with nothing left? In this raw and unfiltered episode of Konnected Minds Podcast, we sit down with a European entrepreneur who made 25 million euros in real estate before age 31, lost everything in the 2008 financial crisis, went to minus 7 million euros in debt, and discovered that what he thought was genius was actually just a wave he was riding without even knowing it. From buying agriculture land around the capital city for 1,000 euros per hectare and selling it to developers for 20, 50, even 100 times more after changing the land purpose, to driving a Rolls Royce Phantom that was the only one in the country and a yellow Hummer that made him recognizable everywhere he went, to being invited to cigar clubs and golf tournaments by bankers who wanted to give him more loans even though he didn't know how to play golf, to the moment in 2008 when the Latvian government created a law that land could no longer be used as collateral in banks and the entire real estate market collapsed overnight, this is the story of wealth, ego, financial collapse, humility, and the brutal lesson that when you make money for the first time you don't know it's just a season. Our guest breaks down why he rented a small Cessna plane and flew around the capital city looking for agriculture land that logically should be developed into estates, schools, and factories instead of potatoes, why he would knock on doors and offer farmers 3,000 euros per hectare when they had just paid 1,000 and the farmers would say "you will never see money, it is too expensive," and why he bought 50 acres for 150,000 euros, changed the purpose, and sold it for 5 million. He explains why from 2003 to 2008 in Latvia only lazy men didn't make money on real estate, why everyone in his circle became multimillionaires, and why he had access to 25 million euros cash moving from bank to bank which in 2006 and 2007 was a bunch of money in Latvia. But we also confront the uncomfortable truth about what happens when a boy from the farms who grew up with nothing suddenly has access to millions, why he went to life's Swedish table and wanted to try everything, why he believed he was invited to big parties because of who he was when really it was because of the money he had, and why he didn't read the book Millionaire Mind that an elder man gave him because he thought "why should I read a book, I know everything, look at my car, look at me, what can this book writer tell me." We discuss why when you come from a rich family you already know how to handle money so money doesn't hit your head, but when you come from nowhere and suddenly have everything you get high every day and don't know how to handle yourself, and why he didn't have financial advisors or any strategy because he thought his genius would make money the same way every day forever. We dive into the moment when 2008 happened and it didn't come gently like in the rest of the world, why the Latvian government created a law in the middle of the crisis that land could not be used as collateral in banks, and why his company called Land Market that only dealt with land was immediately destroyed. We break down why he went from 25 million euros to minus 7 million euros, why after the collapse when he was in rubber boots in the forest he finally understood that the money was just a season, and why he realized that what he thought was his genius was actually just an accident, just a wave that was coming and he happened to be in the right place. We unpack why he didn't keep savings in cash or gold because saving in gold coins is boring and you cannot brag about it, why his yellow Hummer stood in the same place as his Rolls Royce and his Cayenne Turbo S 521 horsepower and people used to take pictures around the car, and why every second week his face was in the newspapers with some new story because he didn't know he should be humble. We discuss why the yellow Hummer was the only yellow car in the entire country and everybody knew wherever he went, why it was flashy and shouting, and why this was the life he thought would last forever. This is the story of what happens when you don't know it's just a season, and why losing everything is sometimes the only way to learn that money without knowledge, humility, and strategy will disappear as fast as it came. ━━━━━━━━━━━━━━━━━━━━━━━━━━ 🎙️ ABOUT THE HOST Derrick Abaitey is a Ghanaian entrepreneur, podcast host, and personal development advocate. IG: https://www.instagram.com/derrick.abaitey/?hl=en Web: https://abaitey.com/

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Segment: We Don't Know It's Just a Season - I Lost It All in 2008

Konnected Minds Podcast

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Konnected Minds PodcastSegment: We Don't Know It's Just a Season - I Lost It All in 2008. Machine-transcribed; use the interactive transcript above to jump the player to any line.

You had come into the country with some money, met somebody from the reglators and a new guest at a dn golemc Yeah golemc I didn't know that even call golemc Did you ever meet somebody? Or maybe a reglator somebody that told you that Or your dn is still going on No Nobody ever told you No, no Money was going like this Everybody was clapping for me How did you build? And you lose? How did you build? Real estate was booming in Latvia, those years I start simply by more lands, agriculture, I changed the pepos and sold it for 5 months Until 2008, when the music was off I just want to know When to mine us, 7 million euros You started the search of spiritual path You wanted to even go to Tibet You used to go on walks, so you became a pedestrian With your son walking on the street Yeah, this is when I lost everything, it's true He's almost as if Ghana's giving you a second chance

That is my first tattoo Jinyamen, because I'm really grateful to Ghana What happened when you got on the land at Christmas? Day and night, rain didn't stop for 2 weeks All the cocoa farms was under the water We are using canoe and guessing where it is our excavators Where it is our washing machines Everything was washed away Did you ever make money doing that? He's been a multimillionaire before And lost it all to the 2008 financial crisis He got depressed My guest today made his money from real estate In Latvia, some small country in Europe But over the years, as he was trying to rebuild his life And make it all happen again He discovered Ghana, the land of opportunities They gave to it to Africa He has definitely rebuilt what he lost

But not just that He's come today to the studio with lessons To teach you how you can make it work Where you are, from the mindset What really happened? How did you lose it? And how was he able to build everything? As a matter of fact, he went to minus 7 million euros Stick with me My guest is Ardiz Azos Who lives in Ghana now owns a company called A1Dizzo, Africa You have an amazing story I spent about 2 days doing research Of Cord Latvia, of spoken to people about you I've got reports about you I think you are the guest of research that most about For the past 3 years since I started doing this Because I really wanted to Figure out a way To get closer to the story Before we have the conversation How did you build? And lose, how did you build it?

Real estate? Yes That was the time When real estate was booming Of course, everybody think they are genius But this was just wave upcoming Only lazy men Didn't make money on the real estate in Latvia Those years Only that who don't want to do anything Those who at least buy and sell properties in Latvia From 2003 to 2008 My circle, all of them become multi-millionaires And when 2008 happened It didn't came gently like in all of another world Because Latvia Sometimes we have something But I don't know why, but only Latvia happens In the middle of crisis When the crisis just started Government created a law

Then land cannot be collateral in the bank So what does it mean? Because my company name was Land Market And I do only land I buy around capital city agriculture land But where I completely see that it is wrong Then this is agriculture There must be estates, there must be schools There must be factories or whatever but not potatoes And I buy that land of course for very small money Then I change the purpose of the land And immediately, same land I sell to developers for 20-50 times more expensive 100 times more expensive It was easy money actually Until 2008 When the music was off Tell me your life Five minutes In five minutes your life before

You made the money Before we even talk about 2008 that happened Your life just before you started making money Okay, how I even discover real estate One of my micro bankruptcies One business and wood I buy wood and sell But that business and I don't remember which year was that And then what remained I decided to buy piece of land To build my house in the future But I didn't even buy I give 10% down payment And then I thought what about if I try to sell for double price? Who know? Let's try And immediately somebody came Because I buy that land as a agriculture land And I change the papers and immediately I put the Advert small advert in the newspapers And somebody came and immediately paid

Double So I pay only 10% So that's it Then I start simply by More lands, agriculture Change the papers but I never go to the places where it must be agriculture What I do I rent small Tesna playing And I fly around capital city And see where logically must be estates Or some development but there is some farming going on And then I go down, sit in my car I go to that land and knock the door But who is this? He says mine Sell me I just bought it And I pay 1000 euros for the hectare So forget about What about if I give you 3000 for hectare? I say listen, I'm a professional I'm doing potatoes already for decades If you pay 3000 euros for a hectare you will never see money

It is too expensive so forget about I say are you selling or not? Is it showing me the money? And I bought it 150,000 euros for 50 acres I change the papers and sold it for 5 million That's it Man there was a newspaper article I think this was an interview of yourself Where you mentioned in fact we celebrate life every day We also work as a entertainment for you How was life then when the money was coming? Through the speaking we little bit get high from that And the boy from nowhere, boy who grow up in farms It is crazy To suddenly drive all thrice Phantom one car in the country

It was a challenge Because you are high every day High on what? You don't know what to do with this You don't know how to handle your stuff How much money did you have access to? We are talking about 25 million euros In today's measurement what is 25 million? But for those times for 2006, 2007, 25 million euros in Latvia It was a bunch of money And we are talking about cash moving from the bank to bank Yeah, when you come from the rich family And you know already how to handle the money The money not hit your head But when you are coming from nowhere Immediately you are going to the life's Swedish table You want to try everything You believe to everything Then now you are called to the big, big parties

You are invited to cigar clubs To the golf Even if you know you don't know how to play golf They still invite you They invite me to give me more loans And I was VAP After 2008 when I was in a rubber boots In the forest I understood that was season So how did you think that you are going to be able to keep the money I want you to really stay on Because I want people to really understand When somebody makes money The type of mind they have They don't have They don't think much because they are affected Most of them affected And of course it's better for me to tell today I was having strategy, I was having The point is When we make money first time We think that will be forever We don't know then this is just the season We don't know then this is almost accident

We don't know We think this is my genius And I will always make it same every day We don't keep some savings in cash Or something, something about saving in gold It came also back then When I understood that actually saving in gold coins Saving in gold in silver It is very stable But this is boring because you cannot say anybody You cannot brag about There was a picture I saw A camera Yellow hammer And people used to take pictures around Akka The same place where my Rolls Roy stand Same place where my latest Cadillac stand And Mike Ayen Turbo S 521 horsepower By 2007 that was something unbelievable

Something impossible But somehow this yellow hammer only stands out That was my leg This was my Like everybody know Because that was only one car Yellow color in all country Hammer 2 And it was shouting It was flashy But everybody know wherever I go Because every second week in a newspaper There was my face with again some story Because I didn't know You should be humble Did you have financial advices? No What sort of people did you have around you when you had your money? Accidental Whatever Whatever Because that time I don't have that knowledge I know I should even keep quite about that And I should say Then I was very wise from beginning No, I was I wasn't

I didn't read the books I start reading the book There is a book called Millenaire Mind That was the book Given to me by one elder man How do you read it? I think 31 And I don't think I read immediately the book Why I should read the book? I know everything Look at my car Look at me What this book writer can tell me

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