1yr QUIT W2 anniversary. Lessons growing startup+ traveling world

1yr QUIT W2 anniversary. Lessons growing startup+ traveling world

J. MartinPro Member
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes

It's been 1 year since I quit my W2 job with the help of BP, and couldn't be happier!
As BP said, "Life isn't meant to be lived in a cubicle." 

I started the corporate world at $45k/yr, and left at $70K/yr. You don't have to be rich to quit the W2, but I sure as hell was frugal!

#1 piece of advice: Network early and often!

After starting a meetup group and partnering up to buy 4 properties in the SF Bay during the downtown with my modest government salary, and eventually growing my furnished rental business, I was able to quit my W2 job on my birthday in 2016, and pursue my dreams of traveling the world :) That's when I started hiring and really growing my furnished rental business. And I got to host another Summit and meet more BP greats! Love these!


Snorkeling in El Nido, Philippines. Feb 2017

As I was traveling, I was growing my furnished rental business, hired a business manager, 3 team members, and finally got started on some processes and procedures. (and a bookkeeper!) I'd been told this a million times, but have finally see it pay big time dividends after insistence to get my **** together by @Arlen Chou. Thanks Arlen! :)  The overhead is higher now, but I'm working a lot less :)

#2 Entrepreneur Piece of Advice: Get written processes and procedures in place! You'll thank yourself!


Street Scene in Oaxaca, Mexico. Dec 2016 

"The best things in life aren't things."
They are experiences, people, and enjoying your life. Don't put that off for too long!! If you're working your whole life to postpone the things you are working for, you're not living it! Don't be the ******* investment banker in the fisherman fable! ;)

#3 Piece of Advice: Enjoy your life!


Bonaroo Music Festival. US Cross-Country Road Trip. Summer 2016. Phoenix, Austin (thanks @Lynn Currie), Houston, New Orleans,Nashville,  Savannah, Atlanta, Jacksonville,  and more!

I hired all my new people on Upwork.com. You'd be surprised how many businesses mostly do NOT need their people in any particular location, so why not tap the global marketplace? Hiring more people was key to starting to focus more ON the business, rather than be wrapped up IN the day to day business. I haven't answered an inquiry in a few months! And growing more direct marketing to our clients to improve our margins through lower vacancy and better pricing. 

#4 Piece of Advise: Sacrifice the cash to hire someone and focus ON your business


Cocktails in Phuket, Thailand w/ my biz manager & friends. Jan 2017.

I am finally seeing the light of Silicon Valley. Expanding into San Jose, Mountain View, and now Redwood City has been an eye opener into the number of businesses down there. Same with San Francisco. My old stomping grounds of Oakland and Richmond are still doing well, but wish I would have followed @Account Closedundefined, and others into Silicon Valley back when the big deals were on the table. Hopefully there will be another opportunity down there! :)

#5 Piece of Advise - Keep your eyes open

You never know where opportunities will pop up! 


Taipei Night Market. March 2017.

Who else has some entrepreneurial advice for investors quitting their W2 jobs? Who else is living their dreams? Anyone enjoying traveling the world? :)

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Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
9y

 For getting the boat closer to the dock before we jump, I would say my #1 piece of advice is to budget. Get your expenses down to the basics. Live below your means and purchase with purpose. 

I brown bagged my lunch everyday, brewed my own coffee and had no car payments.  Fun was frisbee at the beach/park instead of going to a theme park.  Buy assets and experiences, not whatever your broke friends are buying.  It takes focus and doesn't just happen. Tell your money what to do. It's not forever. Thanks for asking!

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  • Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    9y

    Wow, J. This is awesome!  Many, many congrats. You've earned it!

    Thank you for sharing so many valuable lessons here. Even though I quit the cubicle in '02, I needed to hear #3 Live Your Life and #4 Hire People (so you can do #3 ;) loud and clear.

    You are inspiring. Thank you for sharing!

  • Investor · Almont, MI · Member since 2015 · 361 posts · 302 votes
    9y

    Hoping to finally quit my job W2/T4 (I get paid in Canadian) by December 31, 2017...we are in the process now of growing from 7 units to closing on 20 more for 27 in total...I love lesson #2...that's what I am working on now to establish so I can hand off as many small tasks as possible! Thanks for keeping us posted on your successes!

  • Investor · New York City, NY · Member since 2014 · 370 posts · 85 votes
    9y

    Great job!

  • Dallas, TX · Member since 2017 · 1 post · 1 vote
    9y

    Awesome Sauce!

  • Bound Brook, NJ · Member since 2016 · 20 posts · 5 votes
    9y
    Awesome inspirational story! Thank you for all that advice. You seemed determined and focused to achieve freedom and prosperity and that is something I think everyone looks to have!
  • Investor · Los Altos, CA · Member since 2014 · 942 posts · 1k+ votes
    9y

    @J. Martin its great to see you doing so well and getting your business s@%t together!  Your early push got me into the Oakland market and I have not looked back since.  Our case is a great example of BP members helping each other to succeed.  Looking forward to doing some traveling with you in the future!

    My piece of advice for all the entrepreneurs out there is; once you get your business going, start focusing on developing a "mini-me".  If you don't have one, you will always be the guy doing all of the heavy lifting.

  • Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    9y

    @J. Martin,

    Sounds like you're living life to the fullest while most of us are still grinding away. Valuable lessons you shared above.  It proved that you've kept on learning and going farther than most of us. The next stop is joining the 1%, then to 0.1%. ;-)

    We all make our bets based on our knowledge at the given time. I realized early on in my life that the system was against the average Joe. At the same time, I didn't want to waste my life working for the government agency for 25-30 years to retire on a pension. After looking around, I saw the potential of real estate. I spent a decade studying various markets including our nose bleeding expensive Bay Area market. When the opportunity arrived, I bet the farm on it because that was my ticket to get out of the W2 world as well as building generational wealth. 

    Like you, I didn't have much growing up so I wanted to have the ability to provide a little more for the next generation. You're in a great position to be able to do the same, if not, even more.

    Congratulations to your accomplishments bud!

  • Rental Property Investor · San Diego, CA · Member since 2016 · 306 posts · 205 votes
    9y

    Congrats! Working smarter pays off! :)

  • J. MartinPro Member
    OP
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    9y

    @Arlen Chou,

    Thanks for all your help, and glad you came to drinks some of the Oakland Kool-Aid w/ me ;)
    Happy I met that poor, paint-spattered asian contractor looking guy  in a beat-up pickup out in Oakland a couple years back :) hehe Working on my mini-me. So far, so good! Feb '18 Vietnam motorcycle trip! We'll visit the orphanage near @Account Closed, 
    Thanks for the shout out from Dallas and New York City! Do you two have any tips to share that you've learned along the way? 

  • Oakland, CA · Member since 2015 · 246 posts · 127 votes
    9y

    Congrats  J.martin! Sorry to ask, but what is a furnished rental business?  Are you renting to professsionals and companies instead of regular tenants?

  • Investor · Los Altos, CA · Member since 2014 · 942 posts · 1k+ votes
    9y

    I was meeting a bearded, flip flop wearing, hippy looking millennial so I decided it was appropriate match the theme and to dress stereotypically! hahaha.  

    I am working on my "kitchen pass" for that ride in Vietnam!

    Looking forward to the meeting of the mini-mes this week.

    Congratulations again!

  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    9y

    Well Done, @J. Martin!

  • Jerry W.Pro Member
    Moderator
    Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
    9y

    Congratulations @J. Martin.  I appreciate your writing this thread.  I have been, but kicked it up a few notches about 3 years ago.  Wish I had done it sooner.  Now we have had a bust hit us from the falling oil prices.  I am concentrating on holding on while trying to pick up the deals.  I am work9ing hard on the networking, but it a little bit like Green Acres here if you ever watched the TV show.  I am determined to change my business model.  Threads like this are a great inspiration.

    I have not even quit my day job yet like @Steve Vaughan.

  • Specialist · Honolulu, HI · Member since 2014 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @J. Martin:

    It's been 1 year since I quit my W2 job with the help of BP, and couldn't be happier!
    As BP said, "Life isn't meant to be lived in a cubicle." 

    I started the corporate world at $45k/yr, and left at $70K/yr. You don't have to be rich to quit the W2, but I sure as hell was frugal!

    #1 piece of advice: Network early and often!

    After starting a meetup group and partnering up to buy 4 properties in the SF Bay during the downtown with my modest government salary, and eventually growing my furnished rental business, I was able to quit my W2 job on my birthday in 2016, and pursue my dreams of traveling the world :) That's when I started hiring and really growing my furnished rental business. And I got to host another Summit and meet more BP greats! Love these!


    Snorkeling in El Nido, Philippines. Feb 2017

    As I was traveling, I was growing my furnished rental business, hired a business manager, 3 team members, and finally got started on some processes and procedures. (and a bookkeeper!) I'd been told this a million times, but have finally see it pay big time dividends after insistence to get my **** together by @Arlen Chou. Thanks Arlen! :)  The overhead is higher now, but I'm working a lot less :)

    #2 Entrepreneur Piece of Advice: Get written processes and procedures in place! You'll thank yourself!


    Street Scene in Oaxaca, Mexico. Dec 2016 

    "The best things in life aren't things."
    They are experiences, people, and enjoying your life. Don't put that off for too long!! If you're working your whole life to postpone the things you are working for, you're not living it! Don't be the ******* investment banker in the fisherman fable! ;)

    #3 Piece of Advice: Enjoy your life!


    Bonaroo Music Festival. US Cross-Country Road Trip. Summer 2016. Phoenix, Austin (thanks @Lynn Currie), Houston, New Orleans,Nashville,  Savannah, Atlanta, Jacksonville,  and more!

    I hired all my new people on Upwork.com. You'd be surprised how many businesses mostly do NOT need their people in any particular location, so why not tap the global marketplace? Hiring more people was key to starting to focus more ON the business, rather than be wrapped up IN the day to day business. I haven't answered an inquiry in a few months! And growing more direct marketing to our clients to improve our margins through lower vacancy and better pricing. 

    #4 Piece of Advise: Sacrifice the cash to hire someone and focus ON your business


    Cocktails in Phuket, Thailand w/ my biz manager & friends. Jan 2017.

    I am finally seeing the light of Silicon Valley. Expanding into San Jose, Mountain View, and now Redwood City has been an eye opener into the number of businesses down there. Same with San Francisco. My old stomping grounds of Oakland and Richmond are still doing well, but wish I would have followed @Account Closedundefined, and others into Silicon Valley back when the big deals were on the table. Hopefully there will be another opportunity down there! :)

    #5 Piece of Advise - Keep your eyes open

    You never know where opportunities will pop up! 


    Taipei Night Market. March 2017.

    Who else has some entrepreneurial advice for investors quitting their W2 jobs? Who else is living their dreams? Anyone enjoying traveling the world? :)

     Well done J.

    Very inspiring! I would love to ping you off line. Mainly because you've traveled to some of my favorite spots in Asia. Have you checked out Chiang Mai? Super fun place - world class street food, fun mopeds, and nightlife all in one compact place.

    I have a similar plan as you, and I have no desire or need to earn $300 - 400K per year my speciality pays. although I still have 6 years left in the service. I realized long ago I can do very well only less than $100k per year. You are my sensei! :)

  • Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
    9y

    This is absolutely freaking awesome. I actually started my W2 career at 45k 3.5 years ago and now I'm at 70k. maybe I should look into independence soon too...;)

    but seriously this is a great story and definitely motivated me to work harder for the lifestyle I want!

    and great choices on countries visited this year! :)

  • Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    9y

     For getting the boat closer to the dock before we jump, I would say my #1 piece of advice is to budget. Get your expenses down to the basics. Live below your means and purchase with purpose. 

    I brown bagged my lunch everyday, brewed my own coffee and had no car payments.  Fun was frisbee at the beach/park instead of going to a theme park.  Buy assets and experiences, not whatever your broke friends are buying.  It takes focus and doesn't just happen. Tell your money what to do. It's not forever. Thanks for asking!

  • J. MartinPro Member
    OP
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    9y

    @Calvin Kwan,

    Thanks for the shout out. My furnished rental business is a bunch of furnished apartments in Oakland, Richmond, San Francisco, Redwood City, Mountain View, and San Jose. Yes, we rent to professionals like traveling nurses, interns, and business folks 

    @Arlen Chou,

    Some sh*t don't change! Still beard and flip flops! hehe See you tomorrow w/ Shannon & Isara. Get that pass!

    @Chris Mason,

    Thanks. I'll give you a call soon to ask a few questions about qualifying. Thinking Im going to form an S-Corp. 

    @Jerry W.,

    I was curious how things were going out in oil country. I remember quite a while back the two of us and others were speculating what the fall-out might be. Hopefully there are some good opportunities to pick up. Just don't grab the falling knife! And keep those reserves! :) 

    @Andrey Y.,

    Sure, send me a colleague request and you'll have all my contact info. Glad you enjoyed the pics from SouthEast Asia and Mexico. Would be happy to share some travel advice. I didn't go to Chiang Mai this time. But will be going back later this year to check it out I'm pretty sure.. 

    @David Zheng,

    Thanks for the shout out from St Louis! Sounds like we were twins in our w2 life! lol You don't need any more money - just to gain momentum to exit! The trips were great. And so much less expensive in SE Asia.. Highly recommended!

  • Investor · Austin, TX · Member since 2013 · 452 posts · 309 votes
    9y

    @J. Martin you are def doing it right! We've had many discussions about on the business vs. in the business, processes, and outsourcing. I'm not quite able to take off to Asia and let my business run itself yet, but I'm definitely working less and spending more time on the water these days. Oh, and I'm also about to take ukulele lessons so you've got someone to harmonize with!

  • Walnut Creek, CA · Member since 2016 · 10 posts · 9 votes
    9y

    Welcome back @J. Martin! Love the photos. 

  • Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    9y
    Minh,

    Thanks for all your help and advice too. Not sure if I'll ever make it to the 1%. I think I'm too lazy lol Wish I would have met you before this last downturn. Warren Buffet wrote in his last Berkshire letter that every 7 or 8 years or so, dark clouds gather over the economy - and investors need to be ready to run outside to gather the downpour with buckets, not thimbles. I brought a few cups out this last time, but not the barrel I should have if I would have talked to you earlier! But a great start :) Any 1 piece of advice for those still working out there? Thanks for everything Minh. I'll come say hi while I'm staying in Mountain View later this week.

    A successful RE investor once told me "Sex and real estate, get a lot while you're young." He must be in his early 80's now.

    Time is the most precious commodity that money can buy. Hiring people to do the work so you can have more time is a solid advice IMO. Who says money doesn't buy happiness again?

  • Specialist · San Francisco, CA · Member since 2012 · 72 posts · 28 votes
    9y

    Congrats J!! That's great, man. Your deserve it, brotha. 

  • Investor · Champaign-Urbana, IL · Member since 2014 · 84 posts · 49 votes
    9y
    Wow! It looks like you're living the life. That's awesome. Congrats and much continued success.
  • Realtor · San Francisco Bay Area, CA · Member since 2016 · 123 posts · 48 votes
    9y

    Congrats, J!!  Would love to be in your shoes(flip flop) one day!

  • J. MartinPro Member
    OP
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    9y

    @Lynn Currie, 

    So happy you're spending more time on the lake out in Austin :) We're here for a good time! Not for a long time! ;)
    Save on Oct 7 & 8 2017 on your calendar to come back out to Oakland! :)

    @Alnie F.,
    Thanks for the shout out. I worked hard for those pictures!! hahahaha

    @Account Closed,

    There are plenty of flip flops for all of us!!! hheheheehe

  • Investor · Sacramento, CA · Member since 2014 · 46 posts · 28 votes
    9y

    very inspiring!!!!
    is there a forum/post where you explain your strategy with short-term rentals?
    and how you aquire them?

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