$147 Million Exit Gone Wrong: Eric Cline Reveals How He Lost Everything and Rebuilt His Life
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
In this powerful episode, Eric Klein shares his incredible journey from crack addiction to building a $34 million timeshare exit company that was nearly sold for $147 million before lawsuits derailed the deal. (04:40) After losing everything in a devastating legal battle, Eric rebuilt his empire in the wholesale real estate space and now operates Run It Remote, a 500-employee call center in Pakistan serving the real estate industry. (03:13)
- Core themes include resilience in entrepreneurship, the power of belief systems, strategic pivoting after massive failure, and the importance of surrounding yourself with the right people for breakthrough success
Speakers
Eric Klein
Eric Klein is a serial entrepreneur who went from rock bottom addiction to building multi-million dollar businesses. He founded and scaled a timeshare exit company to $34 million in annual revenue with over 150 employees before facing a devastating lawsuit that cost him everything. Eric has since rebuilt his empire in wholesale real estate and founded Run It Remote, operating a 500-employee call center facility in Pakistan that services the real estate and home services industries.
Paul Alex
Paul Alex is the host of the Level Up podcast and a successful entrepreneur who has built multiple companies over the past five years. A former law enforcement officer turned business owner, Paul has experience in ATMs, Bitcoin teller machines, and credit card processing, reaching 4 million monthly listeners with his show focused on helping ambitious professionals achieve mastery.
Key Takeaways
Master the Money-Making Activities
Success in any industry, particularly wholesale real estate, comes down to consistently executing the core activities that generate revenue. (48:18) Eric emphasizes that wholesale real estate has a 95% failure rate because people think they're entering real estate when they're actually entering a lead generation and sales business. The successful 5% understand that deals don't find you - you find them through hundreds of phone calls and hours of talk time. This principle applies across all industries: identify your money-making activities and execute them relentlessly, even when you don't see immediate results after 15 attempts.
Audit Your Circle Ruthlessly
Your environment determines your trajectory more than talent or ambition alone. (52:22) Eric reveals that after 15 years of success, not a single person from his original circle remains in his life except his wife. He distinguishes between having a circle versus a cage - if you're the only person in your group aspiring to do big things, you're likely in a cage that will keep you limited. The solution is to pay to get around the right people through masterminds and coaching programs, which weeds out uncommitted individuals and connects you with others who have skin in the game.
Transform Addiction Into Advantage
Addictive personalities can be redirected toward positive outcomes rather than eliminated entirely. (13:18) Eric openly discusses being "addicted to everything" - drugs, alcohol, shopping, women - but learned to channel that obsessive energy toward business building and personal growth. He emphasizes that as long as he doesn't put substances in his system, he'll "never go broke again" because he's mastered the ability to focus his addictive tendencies on revenue-generating activities and skill development rather than destructive behaviors.
Embrace Failure as Fuel for Comeback
Massive setbacks create the experience and resilience necessary for even greater success. (25:45) When Eric lost his $34 million company to lawsuits and faced $6-7 million in settlement costs, he told his wife to give him 18 months to rebuild everything. (28:02) This confidence came from understanding that business success follows learnable patterns - lead generation, sales processes, team building, and systems creation. Having been through the complete cycle of building and losing everything, he possessed the mental framework and practical skills to recreate success in any industry.
Stay in the Trenches Regardless of Success Level
Maintaining hands-on involvement in core business activities prevents disconnection from what actually drives results. (49:56) Despite running multiple successful companies, Eric still makes sales calls and stays involved in daily operations. This approach keeps him connected to market realities, customer needs, and team challenges while modeling work ethic for his organization. Leaders who remove themselves too far from money-making activities lose touch with the business fundamentals that created their initial success.
Statistics & Facts
- Eric's timeshare exit company was generating $34 million annually with $12 million in net profit when they received acquisition offers ranging from $92 million to $147 million. (17:20)
- Run It Remote operates a 15,000 square foot facility in Pakistan with over 500 employees, with plans to build another 15,000 square feet. (34:01)
- The wholesale real estate industry has approximately a 95% failure rate, with most people giving up before closing their first deal. (47:37)
