In 2003 as a sophomore in college I read “Rich Dad, Poor Dad.” The book’s message resonated with me. I was sold on the idea of real estate investing. One big problem – I was a college student with zero experience and about $3,000 saved up from summer jobs.
After this realization, I pivoted to the “B” quadrant by focusing on building a business. This was still the early days of the Internet (AOL trial CD’s and AOL Instant Messenger.) It didn’t take a genius to see that the Internet was only going to get bigger. My parents and the majority of my friends thought that I was crazy for putting building an Internet business as my #1 priority over getting good grades a good job after networking.
My first successful business was a distributor for a multilevel marketing company, USANA Health Sciences. It was a good fit because I’m into health and fitness, but most importantly it was a solid product and a great opportunity. I jumped in.
I was among the first people in the industry to leverage the Internet to build an MLM company. It had it’s tough learning experiences, but it grew much faster than I expected. Within two years, my business partners and I had built a team of distributors across three continents.
We did by leveraging the best opportunity at the time – Google SEO and Google Adwords. To support our marketing efforts and team, we needed to build a CRM and marketing system. Remember, this was the 2005 timeframe – there were not many options available!
We started learning and teaching ourselves everything needed to program (ever heard of ColdFusion?) and build out a system. Within a year, we had a working system for our team to use. We just kept building new features as needed. Many of our colleagues knew about our system and started asking if they could use it.
The lightbulb went off! We immediately had a second business because we could license it out for a monthly fee. It was a great win-win because each business fed the other.
When I graduated from college in 2005, I did not need to get a job. The residual income was greater than my living expenses. I spent the next decade growing the businesses and moving around the country. It was a blast!
I had achieved financial freedom in my twenties.
But, there was a problem. The residual income was from a business, not investment assets. Residual income from products and services eventually decline. Investment income from stocks and real estate allow for true financial freedom.
Around 2015, it was clear that it was time for me to move on from those businesses. Real estate investing was still on my long-term radar. I started exploring ways to get into real estate for investing and to start a new business.
In 2017 I became a real estate agent to build a real estate portfolio. Here are the three main reasons:
- To generate income to fund my investments.
- To network and build my rolodex in the industry.
- To learn the nuances of real estate investing.
I got my license in Colorado, even though I was living in Los Angeles, CA at the time. The plan was to move out to Denver in 2018. I decided to get the ball rolling and start working on my new business in Denver. In May, 2018 I launched www.DenverInvestmentRealEstate.com with Charles Roberts.
About the Mr Real Estate Agent Podcast
“Document, don’t create.”
I 100% agree with that quote and concept! Documenting my journey will build my network and lead to new opportunities. I’m documenting my journey through the “Mr. Real Estate Agent” Podcast.
The podcast focuses on various topics:
- Building your digital brand to merge your online and offline activities.
- Interviews with successful agents.
- The latest strategies for generating leads.
- What marketing avenues to focus your time and money on.
- Personal finance, business structuring and tax strategies for real estate agents.
- Plus a lot more!