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Wealthy Way

He Left Timeshares To Build An $8M Real Estate Wholesale Business

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.82.1K Ratings

🗓️ 9 July 2024

⏱️ 65 minutes

🧾️ Download transcript

Summary

Ever wondered how to rebuild your fortune after losing millions? Join us as we delve into Eric Cline's journey from near-homelessness to making millions, only to face devastating lawsuits and financial ruin. In this video, he shares how he found hope in the darkest times, pivoted to wholesaling, and rebuilt his wealth from the ground up. Main topics covered:- The rise and fall of Eric's timeshare exit company- How a $7 million lawsuit changed everything- The emotional toll of financial ruin a...

Transcript

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0:00.0

I went from being darn near homeless. Fast forward four years I'm making millions of dollars.

0:04.6

Right as we got sued. I had a $7 million home in Fort Lauderdale on the water.

0:10.1

All the cars, the bells, the whistles, you name it, we had we had our income stream got shut off overnight

0:16.7

You finally settle you just give it all up and you know it's all done. Yeah then what?

0:28.0

Someone told me about wholesale literally so not many people have had the opportunity to exit a company for a hundred million

0:31.6

dollars and then get completely hosed and get

0:33.9

zero.

0:34.9

And then get stuck with a $7 million lawsuit and get blackballed from an industry.

0:39.4

Like how does that happen?

0:41.2

I was asking my same question sitting at that table for lawyers. Yeah. Yeah, there was a point me and my wife, like we didn't understand how we even got there. We owned the largest time share exit company in the US.

0:55.0

We had an office in Fort Lauderdale where we...

0:58.0

How long had you been doing it for?

1:00.0

A decade.

1:01.0

Yeah.

1:02.0

And we were getting ready to exit at like year nine. But, you know, the lawsuit and everything drug it to us being in the industry 10 years.

1:12.0

My wife and I started it from a bedroom. It was our first

1:15.4

crack at being an entrepreneur, you know, and we went from a bedroom and one

1:21.6

office to another to another and before we knew it we had a

1:25.9

office in Fort Lauderdale 15,000 square foot office we had over 150 people in house and we were building out a 30,000 square foot facility during all of this. Like life was amazing.

1:39.7

Yeah, you guys are killing it. Killing it. We were doing, you you know I don't know the exact number it

1:44.6

was between 33 and 34 million gross a year yeah we were netting 12 and you own the

1:50.6

majority of the company 67% of it just great well we're you doing with all the majority of the company. 67% of it.

...

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