“Problems are what we get to work on,” says Jim Maffuccio, the co-founder and CIO of Aspen Funds. He’s been in real estate since 1986, and if there’s something he’s learned, it’s how to fail forward. Listen in to hear what Jim has learned from his decades of experience, how he stays optimistic, and the number one thing he recommends for inspired growth in life and business. Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription. Time Stamped Show Notes: 00:45 - Introducing Jim; who has been in real estate since 1986 and was an engineer beforehand 03:00 - Jim’s CSIRE story: How to Fail Forward 03:12 - He’s had successful failures; in his 30s he could have retired but he wanted to keep building 03:50 - Everything imploded for him in the 90s; he built back up and lost significant net worth twice 04:40 - He saw opportunity everywhere that was created from the mortgage crisis; he started a company with a partner that has grown substantially 05:00 - Jim’s Company Aspen Funds 06:54 - They buy junior liens, non-performing, second mortgages; they buy them on a discount and can work with borrowers to create win-win solutions 07:35 - They can triple investor money; he was focused on the affordable housing space for a while so he’s optimistic 09:50 - They work deals out to eliminate ⅔ of people debt while making money for investors 11:00 - On forbearance and preparing for the other side of COVID 11:45 - Less than 20 people have called to ask for relief; most people are choosing to pay their mortgage 13:00 - People want to work and be productive; they’ve had their biggest quarter ever last quarter 13:45 - Jim’s CSIRE story 14:05 - They bought a non-performing second mortgage on a property in CA; the property was worth $750K, the borrower owned $250K and they paid $30K 14:50 - They got a call from the woman’s father and he was upset; they told her she hadn’t paid in 7 years and he was shocked 15:53 - She was supposed to be paying the second mortgage; the father ended up paying the $275K 16:35 - Another CSIRE story 16:40 - They’ve bought notes on pretty properties online with houses that didn’t exist 17:20 - Some lessons 17:35 - His faith informs everything he does; oftentimes the problem is inside 18:25 - Apply yourself, develop yourself, and find something that makes your heart come alive 19:20 - Vet your ideas and talk to people that care about you; find mentors that are doing what you want to do and learn from your mistakes 21:20 - How to contact Jim: Aspen Funds 3 Key Points Parents, don’t assume your kids are paying the second mortgage.  Work on your core, your interior, first.  Take what you learned and move forward.