2022 Progress: Building A Team
I moved to Dallas in 2019. Soon after I got exposure to the world of real estate investing. I don’t remember exactly how I came across @GrantCardone content, but it seems hard to miss. I watched several of his videos on YouTube and I read his book "How to Create Wealth Investing in Real Estate". As an engineer by training, I was intrigued by the idea that I could build a business that owned real estate, improved the lives of others by renovating apartment complexes, and provided nice returns for investors. I have always been focused on the long-term approach and have always been interested in business, so I had to learn more.
I made Bigger Picture Holdings LLC in December of 2019. Over the last several years I have quietly and consistently honed my skills and knowledge base. I have financially analyzed and toured numerous properties and had many conversations with those who are already "in the game". I have learned countless lessons by doing my own research, but I have discovered that I learn so much more when I ask questions and build connections with others.
Over the course of 2022 I have taken several HUGE ACTION STEPS to work towards making this dream a reality. I have built a team that includes a security attorney, a real estate attorney, and a CPA who specializes in Real Estate Acquisition. I commissioned a website to be made which I am really proud of (Check out the website here: https://biggerpictureholdings.com/) Shout out to Derek Peterson and Adapt Media Agency (adaptmediaagency.com) for making that happen. I have networked with several brokers and lenders. I joined RaiseMasters, a networking group to help people raise capital. Shout out to Hunter Thompson for starting that group. Now its time to start closing deals.
Let's Change the World Together!
#RaiseMasters #10CRECHALLENGE #30CRECHALLENGE #RealEstateInvesting #BuildingTeams
You spent $200 on a pair of Nike Lebron 19 shoes. You have a sweet headband that says, "Baller" and are a month away from a 6" afro. You tore out the back yard and spent $25,000 for a regulation-sized basketball court. You've got the Gatorade cooler, benches, team towels, and even an ice bath. You've hired a basketball coach, a fitness trainer, masseuse, and personal chef. You have everything you need to become a professional basketball player and join the Lakers.
There's only one problem. You've never played basketball. You are 5'10" tall. You haven't dribbled a ball, practiced lay-ups, or even exercised in the last three years. You've never played a game that forced you to decide between passing the ball or taking the game-winning shot. You haven't dealt with a sore hamstring on game day or rode the pine due to a torn tendon. You don't know if you'll like basketball. You don't know if you have any talent or if you're willing to put in the hard work to develop the skills necessary to be succesful.
I hate to be so harsh, but you've put the cart before the horse. You should have spent the last three years generating income, investing in real estate, and learning how to manage your investment.
Spot on @Nathan Gesner That was my first reaction as I was reading through the post. Too many people spend years thinking about what they will do without taking action. Getting business cards, creating LLCs, getting a website. To this day I still don't have a website. It's a small source of embarrassment but obviously it wasn't that important to my success.
Fortunately @William Holland it looks like you're finally getting some traction but don't get too caught up in the minutiae. I'm pretty certain it's the engineer in you that's holding you back. Just get out there and do something.
@Michael Le Thank you for the encouragement. I have been told that by several people. I have all the tools, now just putting everything together. I have a pretty clear path for raising capital. That's my biggest focus at the moment. Next on the list is getting deal flow through nurturing relationships with the brokers I know, and building a few more strategic broker relationships.
@Nathan Gesner I love basketball. I actually have 2 posts this week that will talk a lot about basketball, so be on the lookout. It is a great game that has played a big part in shaping who I am. I appreciate the constructive criticism and I think it accurately reflects where I was a year ago.
I bought my first home late last year (4 bed, 2 bath), with 3 friends living here in the unoccupied bedrooms as roommates. Over the last 8 months I have seen consistent monthly income and watched the home value appreciate by more than $50k. I have also dealt with lots of renovations, and things going wrong. But overall it has been a blessing, and it has been my first small taste of owning and operating real estate and I love it. Lord willing, in the next few months myself and a partnership team will close on a extremely large apartment complex that is currently under contract in a RED HOT southern market. I am heavily invested. I should have started sooner, I completely agree, but I am thankful for my journey so far and excited for the future. I am 26, a little late to get a start in the NBA, but pretty early to get a start in real estate.
In keeping with the analogy, I am 5'10" (which is true). I have a mean 3 pointer, a nice crossover, and good court vision. I have been getting reps in practice, and playing in the summer league. I can even dunk from time to time. At the end of the game if my teammate is open I am willing to pass the ball. I want the best shot to be taken for the sake of the team's success. BUT, I am not afraid. If I am open with time expiring, I got faith in my shot, and I am taking it, whether it goes in or not. Got a call from the League. An undrafted free agent, betting on himself. The season starts soon. I am looking forward to every second of it.