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BiggerPockets Real Estate Podcast

695: Billionaire Advice that Made a Farm Boy a Fortune in Self-Storage w/Andrew J. Abernathey

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 1 December 2022

⏱️ 67 minutes

🧾️ Download transcript

Summary

How much billionaire advice have you gotten? Ever decided to look up the wealthiest people in your area and give them a call? What type of tips could they give you for success? What business ideas would they push you to try? And how would your life change? Instead of speculating, at a young age, Andrew J. Abernathey tried out this strategy, and much to his surprise, he got the billionaire mentor he always dreamed of. Before that, Andrew was just a simple farm boy. You know how it goes: tending to the field, ordering supplies, and trading futures at ten years old. Yep, you read that right. Andrew was making trading calls on grain prices at only ten years old, a skill that his father helped teach him. At fourteen, Andrew decided to put some money in the stock market, and a year later, walked away with an $80,000 profit. And like all young boys, he knew exactly what he wanted to spend his money on—a million-dollar apartment complex! Picking up on a pattern? Andrew has been making incredible moves at almost unbelievably young ages. But we haven’t even touched on the most incredible part of his journey yet. In this episode, you’ll hear how Andrew made wild real estate profits at sixteen, met his billionaire mentor by offering him some pie, and went on to build hundreds of millions in self-storage. It’s all true, and it’s all coming up in this episode! In This Episode We Cover: The importance of early financial education and investing at a young age How parents can cultivate the passions their kids possess Puts and calls, stock trading, and how to invest like Warren Buffett Apartment investing and how knowing your market can make you millions How to find a mentor (even if you’re looking for a billionaire!) Analysis paralysis, shiny object syndrome, and sticking to one strategy Self-storage development and the details behind the deal And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram Henry's Instagram Henry's BiggerPockets Profile Here’s What 10 Billionaires Say You Should Do Every Day Should You Start Investing in Real Estate When You're Young? How I Hired Warren Buffett as My Real Estate Mentor Book Mentioned in the Show Open Secrets of Success: The Gary Tharaldson Story by Patrick McCloskey Connect with Andrew: Andrew's Personal Website Abernathey Holdings Andrew's Facebook Andrew's Instagram Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-695 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the Bigger Pocket podcast show, 695.

0:04.3

But between 10 and 14 I was really getting into books and really obsessed with Warren Buffett.

0:09.6

And when the market crashed it was all over the news.

0:12.4

And that's when I was kind of like 14, like what's the stock market, right?

0:15.2

I mean I was already doing grain and I was doing other things.

0:18.2

And so I went and just threw 4,000 bucks into 4 at 99 cents.

0:23.0

Bank of America at 3 bucks.

0:25.0

I just bought a bunch of random stuff.

0:27.2

And that $4,000 between 14 years old and about 15, 16, so like a year and a half went to $80,000.

0:34.4

What's going on everyone?

0:35.4

This is David Green.

0:36.2

You are host of the Bigger Pockets Real Estate Podcast, the biggest, the best, and the baddest real estate podcast in the world.

0:43.6

Here today with an amazing show that is sure to blow your mind with my co-host Henry Washington.

0:50.0

In today's show, Henry and I interview future billionaire Andrew Abernathy out of North Dakota of all places

0:58.0

who is building a business and real estate empire based on sound principles and smart business choices.

1:04.0

And we share all of it with you today.

1:07.0

Henry, what are you thinking after just talking to Andrew?

1:09.4

Oh no, I think this was a phenomenal conversation.

1:12.0

Man, it just reinforced a lot about, well for me, especially, like I got into this business to improve the lives of my family.

1:21.0

And he was a beneficiary of some fantastic financial knowledge imparted on him by his parents at a very young age.

1:31.0

And it was imparted on him in a way that it actually stuck and he started to implement it at a young age.

1:38.0

And the lessons that he learned then have just kind of created this stair step that he's used to build this real estate empire that he has now.

...

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