Misfit Entrepreneur August 2024 - 418: From Financial Ruin to $200M, Damion Lupo's Journey of Resilience and Reinvention

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Dave Lukas Chats with Damion Lupo

418: From Financial Ruin to $200M, Damion Lupo's Journey of Resilience and Reinvention

This week’s Misfit Entrepreneur is Damion Lupo. It’s rare that we have repeat guests on this show, but Damion is one of those whose message is very important to come back. He was first on the show all the way back in 2020 and his story is pretty incredible.

At age 30, Damion was facing the loss of a $20 million portfolio, grappling with homelessness, and utter despair. But, he fought his way through and back rebuilding his wealth to more that $200 million. Now, I bet you can see why I’ve asked back on the show because you need to hear from him how he did it, what he learned along the way, and how he has continued to grow and thrive since.

He has built over 70 companies with Frametech and and the eQRP system/Turnkey Retirement being most notable. This is on episode, you are going to want listen or watch all the way through.

https://turnkeyretirement.com/

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Show Notes

Damion's journey began in Alaska, where he started his first business—a video game venture—at just 11 years old, even hiring his parents to help out. As he grew older, he ventured into real estate, building a $20 million portfolio, only to lose it all during the 2008 financial crisis. This loss was a turning point for Damion, who realized that his previous focus on accumulating wealth was misguided. Through this experience, he learned that chasing money alone was a fallacy. Instead, he discovered a deeper purpose that emerged from his failures, which ultimately led him to redefine his mission and rebuild his life with a focus on helping others achieve financial freedom.

What happened during 2008 that really sunk you?

Damion initially bought and held real estate properties for long-term gain, leveraging creative financing.
He made millions as the market boomed, then expanded into unfamiliar territories without proper teams.
The Great Financial Crisis (GFC) exposed flaws in his approach; spread too thin across too many ventures.

Was there a moment or key inflection point that helped you get back on the road to success?

Underwent a cycle of grief and eventually sought help from a mentor and therapist.
Spent two years in therapy, focusing on deep self-examination, which was crucial for his reboot.
Key realization: He was meant to teach and help others break financial shackles.

What did you find was true for you?

He realized he was not meant to chase money but to teach people about money from experience.
Found his mission in helping others gain financial freedom, leading to his success and fulfillment.

Talk to us about how you've now gone and done that?

Founded the EQRP company, empowering people to take control of their retirement funds.
Focused on building a community that supports and educates each other.
Expanded to other ventures, including FrameTech, a company addressing the housing crisis with innovative solutions.

What are some of the top lessons you’ve taken from your experience?

The importance of mentoring and coaching; always have people around who are ahead, peers, and those you can mentor.
Acknowledge the psychological impact of money; it can amplify who you are, often for the worse.
The value of doing the work and being obsessed with your mission.

What about mindset? What have you learned about the mental game?

Adopt the "Honey Badger" mentality: be fearless, decisive, committed, and resilient.
Move through fear by focusing on commitment and resilience.
Embrace setbacks as part of the journey, and remain committed to your mission.

What principles from martial arts have you found that translate well to entrepreneurship?

The power of presence: Being fully present in business and life is crucial.
Martial arts taught him to release tension and see things clearly, which translates into better decision-making and relationships.

Tell us about EQRP and how it impacts entrepreneurs...

EQRP is a tool and community for taking control of retirement funds, offering alternatives to traditional Wall Street investments.
It empowers entrepreneurs to make informed financial decisions and connect with a community for shared learning and growth.
The community aspect helps simplify financial decisions and encourages collaboration.

Best Quote

You have to be fearless, decisive, committed, and resilient. That's the way of the Honey Badger.

Less is more. Focus on deeper connections and meaningful work.

Be real about the truth. Face your reality head-on and seek clarity.

Start with gratitude. Reflect on what you're grateful for before setting future goals to foster a positive mindset.

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