​How NOT working a stable job & binge watching HGTV saved my life

​How NOT working a stable job & binge watching HGTV saved my life

Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes

Fresh out of undergrad and without the prospect of a career job on the horizon, I took the plunge and moved from beautiful Reno/Tahoe to Knoxville, TN with the woman that I was dating at the time (now wife). She had been accepted into graduate school where she would study to become a Physician Assistant and we were both in need of new scenery. Leaving Reno meant leaving behind family, friends, and a decent college job as a physical therapy technician. The first couple months in a new city were tough and I struggled to find work. I was trying to put my Health Sciences and Business Administration degree to use by getting into medical device sales; however, the excuse I kept hearing from potential employers was that I didn't have the sales experience needed. Hearing this coincided with an opportunity to gain sales experience by selling commercial fitness equipment to gyms and apartments. The job only paid $150 every two weeks, but there were commission opportunities and I needed sales experience. People thought I was crazy for working so many hours, for such low pay. Pro Tip: Don't waste your money on Bowflex. Matrix, Life Fitness, and Precor are the brands worth splurging on. Anyway, the first few months were a struggle, but what it instilled in me was a sense of hustle and I learned to enjoy knowing that I would be rewarded as a direct result of how hard I worked. More hustle = more sales = more money in my pocket.

Fast forward 1 ½ years and it was another night of working late and coming home to find my fiancée sitting at the kitchen table studying for her next exam with yet another one of Christina and Tarek's success stories flashing across the TV. HGTV had become a source of inspiration for us and confirmed that we wanted to get into real estate, but we didn't know how and didn't have enough cash saved up to do a flip. My fiancée would be graduating at the end of the year with a mountain of student loans and we knew that we would soon be relocating from Tennessee... but where to?

This is about the time fate took hold and I reconnected with a childhood friend and fellow Reno transplant. We decided to drive north to visit him and his family in Indianapolis for Easter and hopefully catch some of the March Madness festivities and games taking place. He was having lot of success with real estate and it felt like walking through a set of HGTV as we toured the flip projects and homes he had purchased in Fountain Square. Towards the end of the trip, my fiancée chimed in and asked "So, if Rob wanted to get involved in real estate how would he do that with you?" He stated I could come up and tag along and see if it was something worth looking into. Although initially thinking it was crazy, her question planted a seed in me. At this point, I had grown to become the top producer for our company in Tennessee, beating out colleagues in more populous areas of the state such as Memphis and Nashville, so it seemed insane that I would leave my job for uncertainty and potentially no pay.  However, even with the success I had achieved, I knew that real estate was worth pursuing and I was getting pulled to it. So, I visited a month later and stayed in Indianapolis for two weeks learning the ropes. I didn't know what my role would be or how I would necessarily make money, but I knew that real estate represented an opportunity for a better future for our little family. Again, people thought I was crazy for leaving my job for the unknown.

Looking back, I often tell my friends that if I had landed a great job out of school and been offered a good/stable salary with health care and retirement options I probably wouldn't have felt comfortable making the plunge into real estate. I am so thankful I didn't score a great job...

Moral of the story... bet on yourself and put yourself in situations that take you out of your comfort zone and force you to grow. Thank you for reading and thank you for making this community a resource for all.  If you would like to connect please feel free to comment or PM me.

-Rob

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Investor · Rochester, WA · Member since 2013 · 221 posts · 30 votes
9y

What are your plans moving forward?

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  • Investor · Rochester, WA · Member since 2013 · 221 posts · 30 votes
    9y

    What are your plans moving forward?

  • Investor · Sunnyside, Queens, NY · Member since 2015 · 213 posts · 159 votes
    9y
    Seems like you like to write. But a few key pieces of your story are missing. 1) what are you doing now and how does it relate to HGTV/flipping 2) what were you making a year before you jumped into flipping homes and how much are you making now 3) what was your life needing to be saved from 4) your wife, how is she involved in your business 5) what did you bring to the table that your friend was willing to cut you in to his successful business 6) you said a career job and benefits out of college might not have let you get on this track but you were a top producer working in sales for several years; surely they also gave you benefits by then. So... I'm just confused with your story.
  • Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes
    9y
    Hi Amit Kal Being a longtime lurker and rare poster, I guess you could say the story was pent up. Thanks for sticking with it... I will do my best to fill in the points that you feel are missing. 1. I have transitioned into a role where I lead property acquisitions. I have my license so we attack the market from that angle, along with sending out direct mail pieces for off market leads. As far it relates to HGTV... even they need projects to work on and I'm sure they don't and can't strictly rely on the MLS. I know the HGTV show, Good Bones, that is filmed in Indy does most of their deals with off market properties. But, it's not so much that I feel I'm living a real life episode on HGTV, it's more the inspiration it gave me. 2. In the second year, I made ~48k before taxes. I will have made over half of my 2015 salary by the end of February of this year. I believe that by taking a leap of faith, I prevented a life of stagnation. 4. We partnered with my friend on a property that he owned but hadn't started work on. We covered half the rehab and he let us rehab the property under his supervision for a portion of the profits. She enjoyed doing the interior design aspects. She is not involved with the daily activities and has since graduate. She is working as a PA and we are searching for a duplex that we can rehab and house hack. 5. A willingness to work hard, learn, and trying to add value where I could. I knew I wouldn't have guaranteed income and I had saved some money up that allowed me to live and covered expenses. He was in the process of starting a new company and it wasn't until month 6 months of being in Indy that my duties transitioned into acquisitions and I started to make money. Before I was a jack of all trades, helping to market houses for rent, doing scopes of works for contractors, and trying to fit in. Mainly trying to add value as the BP podcasts often preaches. 6. No, the company never offered benefits. My only investments were into a ROTH that I started with Vanguard. Thankfully my wife and I were under the age of 26 so we were covered by our parents insurance. The company I worked for was a smaller player in the fitness space, so they couldn't afford any extras.
  • Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes
    9y
    Hi Matthew Murphy , Thanks for reading! My goal is to acquire 125 properties in 2017 for the company that my friend started.
  • Real Estate Agent · Tucson, AZ · Member since 2016 · 168 posts · 106 votes
    9y

    I enjoyed your story (& filling in the blanks)!  I think the moral of the story is, when we're too comfortable, nothing happens.  In my experience, true change only occurs when people get to a point where their level of discomfort tips the scales, i.e. The sick & tired of being sick & tired syndrome.  And, at least for me anyway, HGTV, was the inspiration.  You could see that other people are making it happen...why not you?  And it was reinforced by seeing your friend's success.  I know, everybody makes fun of HGTV, but for people who haven't been exposed to the possibility of real estate, it may be the lightbulb you need.  Congratulations on snagging yourself a great supportive wife & your new career!

  • Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes
    9y
    Thanks for the note, Shawn Devoid ! I believe that's exactly right. What are you experiences and what inspired you to get into real estate?
  • Real Estate Agent · Tucson, AZ · Member since 2016 · 168 posts · 106 votes
    9y

    Well, I know it sounds stupid, but I've always really enjoyed looking at houses in the market (even when we weren't in the market). My in-laws had actually suggested I go into real estate as an agent, but in our old market (Burlington, Vermont), I was under the impression you needed to wear a power-suit & be pretty fake & that just didn't appeal to me. Then HGTV came along and I saw how real estate agents could be genuine (& not wear uncomfortable power suits!) & really help people along the way. We relocated to Tucson & started looking for our primary residence. We asked an agent (based on a recommendation from my husband's colleagues) to show us a house as a buyers' agent. She was nice and casual (no problem there) but didn't know how to write a contract with VA financing, even though I had told her we wanted to make an offer with VA financing a few days beforehand. She had to call a loan officer on a Saturday afternoon. I thought to myself, I could do better than that! And I did. It's not rocket-science! Like they always say on the podcast, there are so many bad landlords out there. Well, there are tons of not-so-great agents out there too! It's just a matter of gaining the appropriate knowledge (for me, the biggest thing is knowing financing & how to use it best) and then actually DOING it, which most people never do.

    Now, I've gotten the real estate bug and can see all the possibilities (& how your home is actually a liability).  Moving forward, our primary home will have to make us money, one way or the other.  Our kids are grown, so we have more flexibility.  But if it hadn't been for HGTV, I would have never had the exposure which led to agent which has opened up a world of possibilities!  That's why I love BP- you just don't know what you don't know!

  • Real Estate Agent · Tucson, AZ · Member since 2016 · 168 posts · 106 votes
    9y

    The sick & tired of being sick & tired theory- that came from work I used to do with families that had lost their military member to a death.  I was their go-to liaison with the military; helped them with their benefits & emotional support.  I could see that they knew what they needed to do to get their lives on track, but they were at a point where their "fear" of the change was greater than their discomfort.  Only when the discomfort gets worse than their fear could they make the leap.  Since then, I've observed it with pretty much everybody.  I've found it to be a useful tool when working with clients.  I try to take away the unknown as much as possible, as fear really is our greatest enemy!

  • Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes
    9y

    It's great that your buyer's agent in AZ was able to inspire you to take action!  Awesome!  I agree with you that HGTV does open the eyes for people wanting to learn about real estate.  There really isn't anything out there, that I am aware of, that talks about income properties or flipping to such a scale.  Of course, it has to be taken with a grain of salt when watching and realize  that it's "Hollywood" and things are fabricated, but it get people THINKING and that's the important part.

    It sounds like you were involved with a very important aspect of our military.  Those families certainly need support, and from my brief interaction with communicating with you it seems that you would have been a good resource for them.  :)   I wish you continued success. @Shawn Devoid

  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    9y

    @Rob LaRovere , love the story and the point of your story. We are doing the same thing here.  The harder we work, the luckier we are getting. 

  • Realtor · Detroit, MI · Member since 2017 · 184 posts · 33 votes
    9y

    @Dan Krupa @Rob LaRovere hey do you all have people that look in the IN and MO market? I have packages to unload.

  • Realtor · Detroit, MI · Member since 2017 · 184 posts · 33 votes
    9y

    @Shawn Devoid Do you invest or know anyone who does in the AZ market? If so, lets chat!!

  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    9y

    @Todd Douglas , I do. PM me a couple deals to look over. If they are legit I will send you my contact info. 

  • Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes
    9y
    Todd Douglas Yes, we will buy packages in IN. Can you PM me the details?
  • Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes
    9y
    Dan Krupa Thanks! I wish you continued success!
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