“The purpose of being an apartment owner is to help and serve other people.” Dan Faller, Founder of AOA
As we prepare for this year’s AOA Trade Show & Landlording Conference, we’re revisiting some of the timeless lessons that have inspired generations of successful landlords.
Among the seminars longtime attendees may remember is one presented by our founder, Dan Faller: The 7 Step Success System on How to Make & Keep Millions (Been There, Done That). Drawing on decades of real-world experience, Dan’s message was simple: success doesn’t happen by chance. Success comes from proven principles, informed decisions, and a commitment to continuous learning.
Many of the challenges landlords find themselves faced with today may look different from those Dan encountered when first founding his business, but the principles behind lasting success remain remarkably consistent.
Here’s a look at the timeless lessons from Dan Faller’s 7 Step Success System, and why they remain relevant to landlords today.
Set Your Goals, Write Them Down, and Have a Plan
Every great accomplishment begins with a clearly defined goal. In this seminar, Dan shares research suggesting that while many people have dreams, far fewer take the time to write those dreams down, develop an actionable plan, and actively work toward achieving them.
Dan’s advice is straightforward: identify exactly what you want to accomplish, write it down in clear and measurable terms, and draft your blueprint for achieving it.
Then, ask yourself, “Why do I want this?” and consider the benefits of accomplishing your goals, not only to yourself, but to the people around you.
“A meaningful purpose gives direction to every action that will follow.”
Once you’ve created your blueprint for success, don’t tuck it away in a drawer. Review it regularly, and affirm what you’re working toward. Visualize yourself achieving it and imagine what it will feel like once you reach your goal. Most importantly, set a target date for achievement to hold yourself accountable.
Purpose Creates Desire
Dan’s lessons continue with an important reminder: having a goal is not enough. Goals require desire.
To illustrate this point, he shares the story of a young boy who loved fishing:
One cold morning, his father repeatedly asked him to get up and mow the lawn, but the boy refused.
“Come on, son. Time to get up!” But the boy wouldn’t budge.
After several unsuccessful attempts, his father changed his approach and said to his son, “We can’t go fishing until the lawn is mowed.”
The boy jumped out of bed. Suddenly, everything changed.
Suddenly, the chore possessed PURPOSE.
The boy jumped out of bed, mowed the lawn, and eagerly prepared for a day of fishing with his father.
The task didn’t change, but the purpose did.
Dan’s point is simple: you have to know what your “fishing trip” is.
What are you passionate about? What matters most to you? What are you willing to work for, even when the work itself isn’t enjoyable?
As Dan puts it:
“Passion is the fuel that powers and propels you… You’ve got to want to do it. You’ve got to have fire in the belly!”
When your purpose is kept in front of you, even the most difficult of tasks become worthwhile because they carry you one step closer to the life you’re working toward.
Your Attitude Determines Your Results
Dan goes on to explain that one’s attitude plays a significant role in determining one’s success.
He shares an example of a study comparing optimistic and pessimistic salespeople. The optimistic group consistently outperformed their peers, not because they were smarter, but because they saw opportunities where others saw obstacles.
Your outlook influences what you notice, how you respond, and ultimately, the results you achieve. The circumstances may not always be within your control, but your attitude toward them is.
Prepare Yourself for Success
Preparation is another cornerstone of Dan’s philosophy. Success doesn’t happen by accident, it comes from preparation.
Dan encourages landlords to continually read, study, seek expert advice, gain experience, and practice their craft. In an industry where laws, regulations, market conditions, and best practices are constantly evolving, staying informed is essential.
Success is not something you wait for: it’s something you must prepare yourself to receive.
Give More Than You Take
One of Dan’s most memorable reminders from the seminar is:
“How much you GET is going to be determined by how much you GIVE.”
For Dan, success was never simply about what you could accumulate, but also the value you could create for others.
Whether you’re serving tenants, helping fellow landlords, mentoring others, or contributing to your community, Dan’s message is clear: lasting success begins with creating value for others.
The more you help others succeed, the more success finds its way back to you. It’s a philosophy that reflects one of Dan’s most enduring beliefs: “The purpose of being an apartment owner is to help and serve other people.”
Don’t Fear Failure
Perhaps one of Dan’s most encouraging lessons is his perspective on failure.
“The more times you fail, the closer you become to success.”
Failure is not the opposite of success, but often part of the process of arriving there. Every setback teaches a lesson. Every obstacle builds experience. Every failure, if you’re willing to learn from it, becomes another step closer to achieving your goals.
For landlords and business owners, setbacks are inevitable; what matters is what you do with them.
Timeless Lessons That Still Apply Today
Years later, Dan Faller’s seminar lessons remain as relevant as ever:
- Set clear goals and create a plan
- Find your purpose and let it fuel your desire
- Maintain a positive, opportunity-focused attitude
- Prepare yourself through continual learning and experience
- Give more than you take by creating value for others
- Don’t fear failure. Learn from it and keep moving forward
These principles extend far beyond real estate. They are lessons about how to approach business, challenges, relationships, and life, and they remain at the heart of the philosophy Dan Faller shared with generations of AOA members.
Carrying the Lessons Forward
Dan’s message was ultimately about more than making money. It was about building something meaningful, continuing to learn, serving others, and having the determination to keep moving forward.
That same spirit continues through AOA today.
This year’s AOA Trade Show & Landlording Conference continues that tradition by bringing together attorneys, industry experts, vendors, and housing professionals for a day of education, networking, and practical solutions for rental property owners.
Whether you’re attending your first Trade Show or your fifteenth, you’ll discover new ideas, valuable connections, and practical insights to help grow your rental housing business.
As Dan says it best:
“AOA is dedicated and passionate to YOUR success—to help you become the most successful group of real estate investors and managers.”
We look forward to seeing you at this year’s Trade Show.
Reserve your complimentary spot today: