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Action Academy | Replace The Job You Hate With A Life You Love

How Brandon Hicks Made $224,000 From A Self Storage Deal - Quit His Job - And Flew To Switzerland

Action Academy | Replace The Job You Hate With A Life You Love

Brian Luebben

Corporate, Careers, Business, Financial Freedom, Small Business, Entrepreneurship, Biggerpockets, Investing, Millionaire, Real Estate, Passive Income, Alex Hormozi, Commercial Real Estate

5683 Ratings

🗓️ 10 December 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Brandon Hicks (@realbhicks) quit his mechanical engineering job through building a $10M self storage portfolio. Brandon currently is the operations director for Action Academy! Want To Quit Your Job In The Next 6-18 Months Through Buying Commercial Real Estate & Small Businesses? 👔🏝️ Schedule A Free 15 Minute Coaching Call With Our Team Here To Get "Unstuck" Want to know which investment strategy is best for you? Take our Free Asset-Selection Quiz Check Out Our Bestselling Book : From ...

Transcript

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0:00.0

What up, Mr. Hicks? Brandon Hicks. Welcome to Action Academy podcast, long time coming.

0:05.8

You are an Action Academy member number one. That's right. What's up, dude? Yep. Not much.

0:10.4

Thanks for having me. Man, we'll start with where you're at today. Where are we today with storage?

0:16.4

Yeah, so I'd say three years ago, no storage at all. Today, it's just under $10 million across four properties, about 600 units, something like that.

0:26.2

So we've gone up to about $10 million in assets under management in the last three years.

0:31.5

Nice.

0:32.0

And does that include the $2 million that you just got under contract on or is that additional?

0:36.2

No, so that would be additional so

0:37.8

we did just get an accepted offer on a two and a half million dollar property as well all right now

0:43.3

was this always popping off like this or were there was there some changes that were made to

0:49.7

increase this deal flow lead flow because i feel like right now in the commercial space everybody

0:53.5

is just struggling to find deals no so it's definitely has not been this the deal flow has not

1:00.0

been as strong as it is right now I closed on my first deal I know we want to talk about this the wholesale

1:04.3

deal I closed in September of 2022 and that's right when I was about to leave my job and I thought

1:09.6

once I get all my time back from my W2 now I I'm just going to start closing deal every quarter. Maybe I can get up to a deal every month. And then I didn't find a single deal for, I think I got an accepted offer maybe one year later. And then I finally closed on two. It ended up being 16 months between deals. So I went all of 2023. I left my job thinking,

1:28.7

okay, I'm going to crush it. I've got 40 hours a week back. And then I had to sit through that,

1:33.1

right? Deal after deal, I think we underwrote maybe four or five hundred deals and couldn't get

1:37.9

anything to really pencil. I just switched my direction a little bit into in-house management,

1:42.3

which allowed me be a little bit more competitive than my offers. That helped me to land a couple of deals that I closed on this year,

1:49.3

actually when we were in Cabo for our Action Academy event. Yeah, every single time that you and I

1:53.9

travel together, you and I just left Canada. And every single time that we're together internationally,

1:58.5

Cabo and Canada, you close on like millions of dollars

...

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