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Justin Green
  • Real Estate Agent
  • Portland, OR
37
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74
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First Year on my own

Justin Green
  • Real Estate Agent
  • Portland, OR
Posted Nov 29 2015, 00:15

Hello BP. I just wanted to give a big thank you to all the talent we have here in 1 place. Thought I would type up a summary of my first year working on my dream. 

January 2015- Have been licensed RE broker for 1 year W2 job 12 years. Part time RE Full time travel W2. Closed 20+ RE deals for others 1 for me previous year. RE Broker is not a career everyone would do or should do it is truly hard work nothing is given. Wake up every day and hustle. Found I love it got so busy was showing homes on lunch breaks working till 10-11pm keeping things together 6am-8:30am work all day at the W2. W2 averaged 70 hours a week RE all the spare time between.

Mid January- RE going so well had to chose W2 or RE. I chose RE. GO 100% self-employed

February- Outstanding 401K loan due within 30 days of leaving W2. Big $$$ due liquidate as much as possible to pay back loan without huge tax penalties. Get it done go down to less than $3K to my name supporting my family.

February- Wife is laid off from W2.

March- Scared... Hustle

April- Taxes Due huge $$$ again closed a few deals to cover nothing extra left.

June- Tenant stops paying rent. Long story basically in his mind his excuse is completely valid to him (lost job) so I should be able to cover rent for him. NO evict.

Meanwhile keep my head up and continue to pursue my goal of 50 deals in year 2 as broker.

June-October- Tenant rides eviction all the way through court pleads not guilty borrows money to pay into court to prolong the eviction gets very nasty threatens us and says he will ride out the eviction as long as possible then leave the day before the judge rules. Finally get him out while he is in jail for beating his wife find drug use in house $5K of rehab plus court, lost rent, and moving the wife out. NEVER rent to a previous felon they know how to use the law against you. (my fault for giving second chances, I did screen well)

September- Self Employment taxes set in again and I know this. More $$$ to the man, Working on other forms of business ownership. Work on depreciating asset schedule. Contemplating switching CPA's.

September- After saving for 2 years and losing it multiple times above buy a new to me car. 30 miles in wreck it. Ouch....

November - working the details for next rental.

Every month helping people buy sell and invest 3-10 monthly.

Taxes plain suck. I plan for them yes but I could have bought 2-3 more rentals instead of throwing it away in the mailbox.

Currently not fanciable, great credit, good income.

Almost December- Sounds scary so far but, I have risen to #3 broker in my firm. On track to close 50 transactions this year. Have rental occupied. Hired my first assistant. Still wake up every day and hustle Stay up every night and hustle. Very thankful to have our health, a loving family, a Home.

Looking back on this year a bit early. I do not regret leaving the W2. I will continue to acquire rentals. I will help more and more people. I will keep working on my dream.

Its very true nothing good comes easy. Thought I would share my success some may call it a struggle, some call it an entrepreneur. Call it what you want just don't call it easy when I'm 20 years on the other side of this.

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