5 • 1.1K Ratings
🗓️ 12 September 2023
⏱️ 22 minutes
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Welcome back to this week's No Limit Minute! This week we are going over a high level view of some of the deals we've done so far. We'll talk about persevering through setbacks, due diligence for new construction, the RV development park process and more!
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| 0:00.0 | Hey, everybody. Welcome back to this week's segment of the No Limit Minutes. Today, we're |
| 0:07.6 | going to talk pretty quickly, and then tentatively, really going to talk about how the pathway, |
| 0:14.4 | excuse me, the pathway to success is not stop the straight and narrow. It's not something |
| 0:22.7 | that's going to be super simple, super easy. And I'm not saying that to tell you what |
| 0:26.8 | you don't already know, I'm saying that to give a little insight into my path into some |
| 0:31.9 | of the deals that we did, how they went, and what that looked like. And I'm going to try |
| 0:38.4 | to give you a lot of high level stuff. Don't spend too much time here with us today, being |
| 0:44.6 | in this No Limit Minutes, but you guys know, hi, I'm sometimes, sometimes I just like |
| 0:48.3 | to give away all the information, which tends to end up entertaining you. But jumping in, |
| 0:54.4 | if any of you know anything about my story, you know, the very first deal we ever did |
| 0:57.9 | was a four-plex. About the four-plex, my wife and I, we're really excited about it. The |
| 1:02.5 | intent was basically the house hacket, which for those of you who don't know what that means. |
| 1:06.6 | It's renting all three of the units, or three out of the four, and actually living in |
| 1:12.9 | the four, thereby living rent-free. And then, of course, it's all being into make money. |
| 1:19.6 | Not only live-free, but actually make some additional capital to grow my own personal |
| 1:23.8 | capital stack, and eventually get to the point where I can leap to the next level, grow |
| 1:30.8 | a lot faster. Well, pretty much any and everything that could have gone wrong went wrong. We ended |
| 1:37.7 | up losing about $60,000 on that deal. And you can imagine how defeating that must have |
| 1:43.1 | been coming off the cost of losing that much money and yet still trying to be dedicated |
| 1:49.5 | and focused on seeing it through. Seeing this whole journey through to ultimate freedom, |
| 1:56.5 | the end goal of what we were striving for by investing in real estate in the first place. |
| 2:00.3 | So a lesson you can learn if nothing else from that story is basically, don't let your |
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