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FNeu

Contributor
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Dec 2, 2021
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Hey my name is Freddy and I have been running my own real estate business/investments since March 2020 and it is all remote work. I am 26 and from a small town in Colorado, went to college in Arkansas, and now live in San Antonio, TX. I have an entrepreneurial spirit so strong now I don't know what to do about it/how to start in other businesses or investments. I jumped in very quickly to my current business I run, studied for about two weeks and made myself start in it immediately after. I have other ideas for businesses but I am struggling yo get started due to higher barriers to entry. I have very specific goals and ideas but would like to learn more specifically about raising capital and using less banks, general business management, physical location startup, etc. I had never had any kind of knowledge or desire to learn about wealth or money or being an entrepreneur until late 2019 as you'll read. I never had much money growing up; me and my family lived on a farm in Colorado and my parents didn't really talk about money with me or my siblings at all and neither of them had much interest in entrepreneurship. They had some ideas, but never really took action on them

This is my story of my entrepreneurial journey thus far.

2019: Graduated college with a bachelors in General Science/Exercise Science. When I graduated in May 2019 I had no idea what I wanted to do. I search for some jobs for a couple of months with no luck. In early August 2019 I joined the Air Force and was at BMT until late September until the base doctors had me drop out of training and sent home for supposed heart issues (I've never had any major health problems. Always been athletic and exercise, no broken bones, no heart issues). Got back from BMT and still had no idea what I wanted to do. I went back to my college town for a little bit and stayed with family and eventually found a job for an assistant management position with Sherwin-Williams. I worked there from November 2019-November 2020. At the same time I started my job there, my dad suggested I read "Rich Dad, Poor Dad" by Robert Kiyosaki. I was curious about it and so I did... it changed my mindset completely! I was surprised too because my dad never talked about money or financial things with me at all growing up, wish he would have sooner. But the book was exactly what I had been thinking about but didn't know what to do. I never wanted to be stuck at a job I hate for the rest of my life not having more time off. I didn't want to work until I was 65 and then enjoy the rest of my life. This book gave me great insight about life, wealth, business, and entrepreneurship. Robert Kiyosaki talks a bit about real estate in his book and that connected with me as I have always had an interest in real estate but didn't want to be an agent working for commissions. But I never thought about or paid attention to investments or money until I read "Rich Dad, Poor Dad", but now I had an idea of what I wanted to do: Real estate investing.

2020: From the time I read "Rich Dad, Poor Dad" I instantly started looking for ways to start with real estate while I had my job. From late December 2019-February 2020 I was doing TONS of work for no money driving for dollars, skip tracing people, getting on BiggerPockets forum and FB page and trying to find any way at all to acquire some rental properties or flip some homes. I was not having much success during this time. And one day I was reading a post in the BiggerPockets FB group asking "What's the biggest profit you've ever made on a single real estate deal/flip?". It had all the normal answers you know like $15k with an assignment, $40k for a 5 month flip and so on. And this one guy said " I made $100k profit in a month with no rehabbing, tenants, or even buying a house". I was so curious if this was real or a scam, so I messaged him and he was super friendly and told me about a specific niche in real estate that is much more simple and profitable compared to flips or rentals. From this point on, I started researching all that I could with the niche and about two weeks later I took action and officially started on March 1st, 2020. I ended up quitting my job with Sherwin-Williams on November 23rd, 2020 and pursued my own business and investments full time.

2021: The beginning of 2021 REALLY took off. It was crazy. Profits were bigger and coming faster than when I was just doing my business on the side after work and on weekends. Since August of this year things have slowed down drastically, but just this week have started picking up all of a sudden. From the first day I started on March 1, 2020 to today I have made a gross profit of $390k. I have always wanted to travel abroad to tons of different European and Asian countries but never was able to until this summer due to money (Went to Austria for a month). I'm working on being more organized and hiring at least one employee to help outsource my business so I can focus on scaling and focus on different businesses I'm interested in starting as well. Also working on getting more familiar with tax laws and saving money from going to the gov. And other general business management practice. My hometown in Colorado has about 7,000 people and the county as a whole has about 12k. I've been looking since the beginning of the year off and on about real estate development and creating businesses in my hometown as there is a strong push to grow the area, but for good reasons as there are quite a few opportunities from what I can tell (Again, I am fairly new still to all things business and just based off what I know so far). But my hometown and county unfortunately had some corrupt people in the city council, county commissioners, and mayors from the 70s until around 2014 or so. The previous local officials had businesses and real estate of their own and pretty much blocked others from bringing in business or allowing developments... but it starting to change and I'm hoping to grow my hometown.

Sorry this is long, but since I've started down the financial independence path I literally cannot think about anything else really and just want to keep building businesses and getting into real estate development. I get excited reading about how other people got started and what they do and I love sharing my story too. I never imagined I would be where I am today. Having no background at all in business or entrepreneurship from family and friends, I wasn't the best at school and didn't really have confidence that I would find something I enjoy... but thankfully I have. I enjoy real estate and entrepreneurship! I know everybody says this but it is so true: If I can do it, than anyone can! It just takes one thing to completely change your world and what you make of it.

I look forward to meeting tons of people on here and learning and possibly patterning on future endeavors.

PS: I have yet to read the books, but I found this community this morning and been reading through some threads and loved it so I joined. I will be buying TMF and Unscripted on Amazon today @MJ DeMarco
 
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MJ DeMarco

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Welcome aboard, appreciate the introduction. Hope you find value in the books as it relates to your journey. While real estate has been a fantastic vehicle this last decade, I'm preferential to business vehicles that enjoy more asymmetrical returns. That is touched upon in TMF , but more so The Great Rat Race Escape ... asymmetry = 1 unit of work, 10 units of pay.
 

wanttogofaster

New Contributor
Read Fastlane!
Sep 2, 2019
41
15
I messaged him and he was super friendly and told me about a specific niche in real estate that is much more simple and profitable compared to flips or rentals.
Sounds like wholeseling, if he didn't have to deal with any of that.
 

wanttogofaster

New Contributor
Read Fastlane!
Sep 2, 2019
41
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Yes, a bit different from wholesaling homes. Double closings/assignments or owner financing.

I mostly do double closings using the buyersi funds
Yeah, I'm familiar with the double closing.

How do you go about finding the deals? We've been getting LOTS of postcards and text messages lately.

Did you have to get a RE license to get started?
 

FNeu

Contributor
Read Fastlane!
Dec 2, 2021
31
29
26
Yeah, I'm familiar with the double closing.

How do you go about finding the deals? We've been getting LOTS of postcards and text messages lately.

Did you have to get a RE license to get started?
I send direct mail. Both postcards and 1 page letters (neutral/offers). I've heard more people are sending texts but I don't know what kinds of response rates people are getting. Are you getting postcards and text for houses?

No real estate license is needed. You just get the properties on option contracts for a period of 3-4 months with the permission to market the land from the seller. So you have either the option to buy it yourself or do a double closing or assignment. I literally started with only $400 sending postcards once a week and got deals made me $6k-$10k profit in about 2 weeks. I now send spend about $2k/mo on mail and only do deals if I can make $10k+ profit, but most stuff anymore has been $20k+ profit for each deal
 

htown

New Contributor
Jan 4, 2022
3
2
Great story and thanks for sharing. It definitely resonated with me. I sent you a PM and would love to connect.
 
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