137: Turning $3,000 into 10 Doors (As a Former Parolee)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 8 December 2021

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Do you ever feel out of place as an employee? The W2 route isn’t for everyone and maybe you’ve started to feel the entrepreneurial itch. So what steps do you take when it’s time to transition into working for yourself all while building wealth through real estate? After years of being in and out of the prison system, Sterling Shrout needed a change. His whole life he considered himself a “bad employee” until he finally realized he wasn’t meant to be an employee, so he turned to real estate. He began by listening to The BiggerPockets Podcast and any other educational material he could find. From there, he became hooked on the idea of creating opportunity and building capital through self-employment. Besides owning his own home, something he never thought he would do, Sterling has now closed on ten doors in less than two years! We touch on topics like overcoming self-doubt, finding a business partner, going from an employee to an entrepreneur, triple net leases, and operating agreements. If you want to begin the journey to self-employment regardless of your past, this episode is perfect for you! In This Episode We Cover Overcoming self-doubt and not letting it keep you from pursuing your dreams The importance of having the right business partner (and how to find one) Transitioning from being an employee to an entrepreneur and why you should take the leap Triple net leases and the massive advantages that come with it as a landlord How to set up an operating agreement and why they’re essential for partnerships How to build, find and maintain business relationships (even if you don’t have any yet) And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Rookie Podcast 129: 5 Properties After Spending 8 Years in Prison (With ZERO Credit!) BiggerPockets Podcast Craigslist Brandon Turner's Instagram Dayton Real Estate Estate Investors Network Facebook Group Linkedin Check the full show notes here: https://www.biggerpockets.com/rookie137 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 137.
0:05.0	Never expected to get in a real estate, I didn't think that was something I could do.
0:11.4	I didn't think that was obtainable and then run it into a bigger pockets podcast from
0:16.2	a Google search and starting to get educated, starting to realize that there may be an avenue
0:21.2	for me to get in.
0:22.2	That's kind of what got me here today.
0:25.8	My name is Ashley Care and I'm here with my co-host, Tony Robinson.
0:30.8	I actually care what's going on.
0:32.8	How you doing?
0:33.8	I got you first.
0:35.8	What's going on with me?
0:36.8	Let me see.
0:37.8	Did I already talk about us surprising my son for a winning ASP president?
0:41.8	You didn't tell us how it happened.
0:43.8	You told us you were going to do it, but not?
0:45.8	Yeah, yeah.
0:46.8	So how long?
0:47.8	Earlier this week, we found out that my son, he was running for eighth grade ASP class president.
0:52.8	We found out that he won.
0:53.8	So my wife and I decided to pick him up with a limo, pick him and his friends up, surprise him at school.
0:57.8	It was such a great time.
0:59.8	All the kids come out of school and we're like, oh my god, there's a limo.
	...

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