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EXECUTION Envision - Real Estate Progress Thread

Discussion in 'Progress/Execution Threads' started by Envision, Mar 13, 2018.

  1. Envision
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    Envision Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    I've been thinking about ways to bring value to the forum and I think creating a progress thread about my real estate business and investments could provide alot of insight to members interested in investing (especially at a young age) and also help myself stay accountable to doing what I need to do.

    Current Situation:

    Currently, I work a full time job (VP of Operations of a real estate holdings company), run my e-commerce business, attend school full time (just 1 year left), and invest in real estate when I have the opportunity to. I would like real estate to become the bulk of my income as it has many benefits with the major one being secure form of income.

    Current Properties:

    I purchased my first property when I was 20 by house hacking it. I lived for free, paid down the mortage, and purchase my second property when I was 22 and house hacked another larger duplex (i've spoken on these at the summit). If you're interested in househacking check out @G_Alexander thread here it's jam packed with good info.

    I live in 1 of my 4 units.

    Current Units: 4

    My overall goal is to build a multi million dollar holdings company that self manages assets ranging from multi family to storage and other commercial assets. I have a number in my head pertaining to net worth and maybe one day I'll disclose it but in reality I just love the process of doing deals, seeing my tenants lives change because I can provide them with a place they love to stay in, and seing my life change because of the Unscripted ability that real estate provides.

    Where to go from here?
    • I'm focusing on my ecom business and scaling it to provide me with the income to purchase real estate.
    • Connecting with other investors and establishing relationships in my city.
    • Keep learning at my job about how to manage and scale a real estate business.
    This isn't a thread that will see a ton of success in 6-12 months (like many gurus tell you) it will be 5-10 years to see substantial gains and in the overall game plan will be something I do for the rest of my life but I hope some of you can gain a lot from it if you're interested in real estate investing.
     
    SteveO, ChrisKyle, welshmin and 15 others like this.
  2. Envision
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    Envision Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    Currently have a lead with a local investor who's looking to seller finance. Could be a great opportunity, met him through going to my local REIA meetings.
     
    JohnD Realestate and Kingmaker like this.
  3. Cruze
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    Cruze Contributor

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    Awesome thread and very interesting goal. Im active in the ecommerce, too but very interested in real estate and asset management. We have the same goals. But I haven't yet properties like you :D
     
  4. UnrealCreative
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    UnrealCreative Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Morning @Envision, Thanks for creating this thread! Really enjoyed your talk at the Fastlane Summit a few months ago, and looking forward to how this thread will develop.

    I am curious about your current situation, specifically where your focus is / how you're managing multiple projects at once. You're the VP of Operations @ RE Holdings Company, own an Ecommerce Business, Own & Manage your Properties, AND are a Full-Time Student on top of all of that...

    ...That's a lot on your plate!
    So, I have a few questions based on this:

    -Would you rather focus on one project at a time and grow from there?
    Why not put in more work as the VPO or your Ecommerce Business?

    -Why are you still in College?
    It seems the unspoken consensus on the forum is to drop everything and focus on business if it's taking off. Not to say it's right or wrong for you going -- It's just contrarian amongst this community and I'm genuinely curious about the benefit you derive from going to college, even though you're already "doing it." I liken it to the person who doesn't quit their job, even though their business generates their salary multiple times over.

    Looking forward to your reply!
     
    Last edited: Apr 29, 2018
  5. Envision
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    Envision Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    Hey man, those are some good questions and I think about the situation a lot. I think it comes down to free time and what you're filling it with. I don't have free time because I am always working on progressing in one of the categories you've mentioned but that doesn't mean one of those categories detracts from the other, i've worked it out into a way where they don't interfere with one another and in some cases benefit each other. For example,

    -My job pays for half of my tuition, I am full time and get a full time salary, even though I can leave and go to class.

    -When I need a contractor to work on one of my properties I use the same contractors that I use for the RE firm Im the VP in and I get priority treatment because of how much work I bring them.

    My salary from the ecom business and VPO position look really good to banks when looking for financing for new properties.

    As for the VPO position, I've essentially climbed to the top of the company already and any future growth would come in under me. When it comes to the Ecomm business, im too reliant on a couple of sales channels and I would rather reinvest back into the business than have to live off of the income I produce.

    I'm in college just to get the peice of paper man but I'm also thinking long term about it as well, most of the stuff we discuss in class I've already taught myself or I'll literally never use in my life. Im fine with that, but I might even get my MBA because one day I will most likely create an investment firm myself and when I'm raising money or working with banks, or whatever the case may be I'll have the credentials but also the track record to get funding, investors, partners, etc. I also want to get it done now before prices get even more crazy (i only have one year left in my undergrad).

    Just a side note on the college thing that I've observed - the stats are against the college argument, getting a degree IS PROVEN on average to make you more successful in life than not getting one. Everyone who speaks out against it actually has one - Tai lopez, Gary V, Grant Cardone, Peter Theil... They may say it's a waste of time and you shouldnt do it but then you have to ask yourself would they be where they are today without it? No doubt they'd all be successful, but would they be where they are today?

    What I HATE about college is the racket that's been created to screw students with student loan debt. The government backs the loans essentially allowing schools to raise prices astronomically and they saddle the student with the burden in a stage where the student doesn't understand or care YET about what they're doing to their future.

    I won't have that issue, I wont have any debt and Ill have the degree just a couple years later than my friends who have -60k and got their "college experience"
     
    Deceiver, UnrealCreative and Cruze like this.
  6. UnrealCreative
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    UnrealCreative Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Appreciate your detailed response!

    Sounds like real Synergy; Nice setup! I try to do similar -- cross pollinating between areas of improvement in my schedule. The whole really is greater than the sum of their parts when set up this way.

    So, your schedule is pretty packed then? If you're at liberty to share, I'd love to know what your average schedule looks like. It's sort of inspiring to see how much more other people can squeeze out of a day and try to emulate that.

    Got it, good plan.
    I'm assuming this is in addition to any LOCs from the previously paid off houses?

    By the very fact that you're going by choice speaks volumes to your level of commitment and clarity of vision. IMO College gets a bad rap here because at the core, most average students feel obligated to go to college as opposed to a conscious decision.

    As a forum pursuing an Unscripted life, being Unscripted feels a lot more like cutting out the stuff you don't want (financial scarcity, temporal prostitution, social constraints, etc) than anything else. For some members, the obligation to attend college due to social pressure, parents, or whatever the catalyst -- will cause it to be on that list as well. Others, not so much. Depends on the individual's goals.

    So for example, my goals didn't necessitate an MBA to use as a credential for financing from a bank. But everyone gets into the college vs no college argument because everyone projects their values and goals onto other people. lol

    Every situation's different, but in this case my current service business is based on a trade (Audio Production & Engineering) that I've studied obsessively since youth.
    I had enough experience from busting ass working side gigs and being exposed to the industry over the years that I would have experienced diminishing returns by delaying entering the workforce with more education. But I can't tell you if this was a good decision until time has passed -- Consider it a strong belief loosely held.

    To each their own. I have no qualms for someone who decides to go by choice and has set their life up to be net beneficial like you have. Again, Appreciate your response as I've been genuinely curious!

    Absolutely hear you on this.
    Without a plan, it's practically financial suicide waiting to happen.
    I'm just as opposed to this racket as the next guy.
    Awesome to see you'll be graduating debt-free.

    Anyway, thanks again for the response.
    Feel free to respond to as much or as little of this post as you'd like as it's mostly a ramble. Just been sitting back nodding my head in agreement at everything you've posted, haha.
     
    Last edited: May 2, 2018
    inputchip likes this.
  7. Envision
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    Envision Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    Sure man,

    Wake up around 6/8
    Ill workout in the morning
    Work 9-5
    If i didnt workout in the morning ill workout after work.
    If I have class after work ill go to class
    Work on business 7-1
    Repeat
     

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