Discover the fascinating story of how Nick became a creative real estate investor after his job loss to create a better financial future for him and his family. If you’re looking to take control over your financial life, you’re going to love this inspiring interview!
Nick's Journey to Creative Real Estate Investing
Brian: Well, Nick, thanks so much for joining us today. You had a memorable journey with us. We worked on a variety of deals together and you had some ups and downs that came with great lessons. So, take me back to where you were before you started. What led you to pursue real estate?
Nick: First of all, thanks for having me, Brian. It's my pleasure to do the interview because you guys have done so much for me over the time we've worked together. So, thank you first and foremost, but to bring you back to the beginning where I started. I had lost my full time job and was looking for the next path, kind of at a crossroads.
I had always been attracted to real estate. It seemed like just a smart thing to get into given all the wealth that's been created in the industry. So, I started researching online and getting an idea of what type of education was out there. For me, I was looking for someone to coach me along the way because I had another business that I did myself and I learned all the lessons the hard way. So, I was thinking, how can I close the gap and take this seriously. That’s how I got introduced to you guys and thankfully, my wife was on board. She was hesitant at first because it was a new industry and she was a little bit nervous that I was going into something I didn't have experience in. And then on top of that investing into some education. But after I walked her through the program and all the resources you guys provided, she felt a lot more comfortable. And of course she believed in me, so we decided to make the jump.
Why Freedom Mentor?
Brian: Wonderful. Now, you've worked in a business online, you're more of an entrepreneur at heart, so I'm sure you always do lots of research. Why did you choose Freedom Mentor?
Nick: I did do a lot of research. Actually, I scoured the internet, YouTube, and read articles. I came across Phil's YouTube channel first and I was consuming his content. He was putting out solid content and I was looking for someone that was practicing what they preached. What I didn't want to do was get into a program with someone who was no longer doing deals because at the end of the day, markets are changing all the time. I mean, look at all the ups and downs we've had over the last few years. So it was very important to me to find someone that was doing it and had a lot of experience to back it up.
Then the structure of the program was also important to me. So the fact that you guys had multiple daily coaching calls was very conducive for my schedule. And being able to get immediate feedback and advice on what I was working on was super important to me. And then on top of that, I also listened to Phil's audio books and bought some of his physical books and that was solid information. After all that research, I felt like Phil was the right mentor to get me to where I was wanting to go and then the structure of the program was going to help accelerate me and be the resource that I needed.
Brian: As you were doing your research, and of course there's no shortage of information available out there, why not just pursue real estate on your own? Why did you feel like you needed a mentor?
Nick: Fear of the unknown, and just the fact that I wanted to take it seriously. I didn't want to just dabble in it, I wanted to make a career out of it. The education that I was going to be receiving, the help from the coaches, and the accountability of being in the program is what made me want to invest into a coaching program like this. And I think if I wouldn't have done that, I may have never taken it as seriously. I may have tried to do it myself and maybe made some mistakes and then said, “This isn't for me. I can't do this,” or something along those lines. And honestly, I just wanted to get good at it fast. I didn't want it to take a year. I didn't want it to take two years to start making money I wanted to make money, right away.
Freedom Mentor Community
Brian: Yeah, no time to pursue this as a hobby and get hobby results. You were ready to take real estate seriously, take it to the next level and reduce the learning curve to a minimum. And that's an important piece. You recognized that you wanted to work with someone active in the market that's doing deals. Well, all our coaches are investors and since we work across the country with apprentices, we all learn together in very different dynamic markets, and we benefit each other as a community. What stood out to you about the Freedom Mentor community?
Nick: Well, you made a great point there. The fact that you guys have multiple coaches in multiple areas, and you've been doing this for a long time; I think that gives you an advantage because you've got so many data points, right? You're working deals across the country and you’re the first to know market shifts. I certainly benefited from just the amount of data and experience, because at this point, I would imagine you guys have done multiple thousands of deals across the community. So, it's an aggregate of that data and that experience. There's almost nothing you guys haven't seen; I certainly know nothing I did surprised you. Although it was sometimes surprising for me that you guys were the cool heads and the ones that would keep things on track.
Brian: And that's just mastering the business through closing so many deals. We learn in each one and there's always nuances, changes, and distinctions to make. You joined us on a lot of group coaching calls, heard other apprentices working on deals, and heard the challenges others work through which helps you avoid a lot of them. We just make each other better and it's unique because these aren't your competitors in your local market.
Memorable Deals
Brian: Well, Nick, you did a lot of different types of deals. Were there any that stood out as particularly memorable for you?
Nick: A couple come to mind right away. One that stands out was a wholesale deal. And what you guys had talked about a lot was the quick nickel versus the slow dime. And this one happened to be a quick dime. The profit on that deal was about $35,000 and we never lifted a hammer or took the risk of spending any money. So that one stands out, but then there were two rehabs that stand out. The very last deal we did was a beach house which was just a lot of fun, an HGTV type of rehab. And then we did another rehab that was pretty significant, a beautiful multiple acre property. We did a full interior, and exterior rehab on that deal. Just watching the property transition, the before and after, is always fun. Then the cherry on top of all that is just finding a cool family to buy the property. They get their dream house, and we make money. So those are a couple that stand out.
Win-Win Creative Real Estate
And then one more that I'll mention was a strategy that I never would have thought of, which again was the benefit of working with you guys. We did a creative deal that was a wholetail, where we tied up the property but then we sold it on the MLS. Again, didn't have to own it at that time but we were able to really help a disabled veteran and he was looking for a solution. We were able to come in, I made some great rapport with him and then we were able to get him out of the property and into a new property closer to his family. He was just super grateful for us coming in and assisting him. And that was kind of something that was a misconception for me. Like, getting properties at a discount, is this hurting anyone? Are we taking advantage of anybody? But I can't remember a single deal where the owners weren't grateful for us helping them out. So I thought that was pretty cool about the industry.
Brian: Yeah, as we discussed, this is a people business. It's really learning to communicate and understand someone's unique real estate problem and then creating a solution that's a win for them and for us.
The Value of Shared Success
Brian: But it's interesting, you mentioned before that your wife also looked at the program and was supportive. Was that the case as well when it came to sharing in profits with Freedom Mentor?
Nick: Again, that was something that both myself and my wife were hesitant about. But to me, it was imperative for you guys to have skin in the game. Really, you guys are benefiting from this as much as I am. And I felt like it was great accountability for Freedom Mentor too. It's not just like, “He's already paid us and let's put him to the side”. No, we're in this together and we have similar interests in this. And when I win, you win, right? So that was something attractive to me about the program versus other ones that don't have that aspect. The fact that we are part of the team, we were essentially partners in the deals and you guys were going to do whatever it took to get it across the finish line.
Brian: Right, and those mutually aligned interests are so important because as you said, it keeps it all working for the same goal. We succeed and profit together and you develop so much experience and skill in the process. Well, you've obviously met your goal. You've made $500,000 with us in net real estate profits. How did it feel to get to that point and finally graduate?
Nick: It was surreal. I certainly had doubts, I didn't know if I would ever make it, or how long it would take if I did. But what I committed to was just following the process and taking it one day at a time, just getting in, getting educated, and starting to do deals. When we finally got there and crossed the finish line, it was kind of surreal. But it felt gratifying because I could look in the mirror and say, “Hey, look, you did it”. And now you have this skill that will carry you forward for the rest of your life.
Mitigate Risk with Mentorship
Brian: That's great. What would you tell a beginner, someone that's just getting started in real estate? What kind of advice would you give someone new to real estate that's trying to decide if they need a mentor?
Nick: I would say that, honestly if I can do it, anyone can do it. I didn't have the experience in the industry, so I wouldn't let that be an excuse for you. And I would also say there's no free lunch in life. No one's going to hand it to you, right? So you've got to be accountable to yourself and to take the actions to create the life that you're wanting. It's risky. Yes, it's scary, but you've got somebody that will hold your hand and get you there. Honestly, it took a lot of work and there were challenges but if you just trust the process and lean on the coaches then you'll get there too.
Brian: It's a journey and problems are going to come up and mistakes can be made when you're learning. But you joined us to avoid those and to have guidance when they occur. What are the biggest mistakes you think an investor can make?
Nick: Yeah, I've certainly made a good number of mistakes myself, but I've been able to mitigate a lot of the risk and loss by having coaches, you guys. One of the mistakes is rushing in without proper education. For example, where that will hurt you or kill your real estate is things like not getting the correct inspections on a property, making mistakes when dealing with contractors, overpaying for things, not knowing how to underwrite the property correctly, and not having multiple exit options. Those are just five of a thousand potential problems that you could run into.
Brian: Absolutely. And so much of what we're trying to do, as you indicated, we're trying to shortcut the process to success. There's no shortcut for the hard work that has to be done, but you can avoid wasted time and as many mistakes as possible.
Overall Experience with Freedom Mentor
Brian: What has been your overall experience with the Freedom Mentor Program?
Nick: It's been awesome. I mean, I've spent a lot of time talking with you personally and I've spent time with Phil and some of the other coaches as well. And just the comfort, knowing that you guys had a lot of the answers to the problems that would arise. Whether it be marketing challenges, or what to do with a seller that's upset or how to deal with title companies. With Freedom Mentor, you guys were the guiding light, and I'll be forever grateful for that because it affected my life and my family's life. I've got three kids and a wife; I support all four of them. And not only have you allowed me to support them, but with this specific skillset and this industry, I can also make my own schedule, spend more time with them, go on vacations, play with my kids when they get home from school and not miss these precious years of their lives. So, it's been a lot more than just the money in the bank account.
Looking to the Future
Brian: Well said. That's so true. And speaking of the future, what does the future look like for you in real estate and moving your business forward?
Nick: I'll continue doing what we did together and doing it at a bigger level. I've created a great life for myself. I have all the teams and processes in place and now it's just continuing to improve on that. You guys got me where I needed to go and I plan to just continue to grow things while you guys are still a resource.
From Job Loss to Real Estate Success
Brian: Well, Nick, considering where you started out after having lost your job, trying to figure out where to go next, knowing you wanted to learn how to build a real estate business and you turned to Freedom Mentor to teach you how to do that. And here you are now, you've accomplished your goal. You have a thriving real estate business, control of your financial future. How does it feel to be you now?
Nick: Promising and hopeful, versus scary and unknown. I feel very confident in my abilities to create the life that I'm looking for and make the income that I want with this skill. So yeah, things are looking good.
Brian: That's wonderful. And what a blessing to see what we've been able to achieve together. It's really just a springboard for your even brighter future. Thank you so much for sharing all you have. I know there are people right now that are thinking a lot of the same things you initially were, ready to take control and put in the hard work. You just needed the right vehicle, and you knew you needed the right mentoring and coaches. I'm so glad you joined Freedom Mentor for the journey, Nick. Thank you for taking time to talk with us today.
Nick: Anytime Brian and thank you for all that you've done for me. I guess in closing, to anyone that is on the fence, I think it's apparent that real estate is the right vehicle based on all the fortunes that it's made and I would definitely confirm that Freedom Mentor is the right coach to get you there.
Every Successful Real Estate Investor Has a Mentor
Nick turned his unfortunate job loss into an opportunity to take a different path in life, which ultimately led to control over his financial future. Maybe you can relate to the crossroads he was at. Maybe you're not happy with your career or frustrated with your job. Creative real estate investing is the best small business there is, and it will pay you what you're worth and give you control over your financial life.
Now, Nick had a side hustle which helped him cover some bills while he was getting started. So hear me clearly, don't run out and quit your job. We literally have a video called Quit Your Job for Real Estate?, explaining why you shouldn't do that right away. However, with the right mentor and a reasonable timeline, you too can achieve success. Nick knew that and that's why he chose Freedom Mentor to guide him every step of the way.
If you want the opportunity to build a successful future like Nick, apply to our mentorship program: Freedom Mentor Apprentice Program.
Questions or comments? Text FREEDOM to 305-315-8030.
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