People outside the real estate world may think of real estate as a sort of business giant. A complicated, risky, and demanding business is what real estate looks like to the outside world.
A novice investor can be intimidated by how they perceive this business, but they won’t have to worry because our guest for this episode is exactly the man for that sort of guidance.
Introducing Christian Bachelder! Real estate investor, advisor, broker, and owner of The One Brokerage.
Christian emphasizes the importance of surrounding yourself with people who are driven and active in financial pursuit.
Listen in and see what nuggets of gold he has to offer you, including finding arbitrage opportunities and an investment strategy he’s come up with!
What You’ll Learn In This Episode:
Who is Christian Bachelder?
Christian’s categories of real estate investors
Guidance in arbitrage opportunities
Surrounding yourself with the right people
Tips for starting with property investment
Christian’s investment mode
One House A Year
Want to know how you can network with people and create circles?
Connect with CHRISTIAN@:
Email:
christian@theonebrokerage.com
LinkedIn:
Connect with Corwyn@:
Contact Number: 843-619-3005
Instagram: https://www.instagram.com/exitstrategiesradioshow/
Youtube: https://www.youtube.com/channel/UCxoSuynJd5c4qQ_eDXLJaZA
Email @: corwyn@corwynmelette.com
Shoutout to our Sponsor: ROBYN COLLINS
Do you want something more? More Meaningful Moments opportunities, deeper relationships and memorable experiences? Do you want to make a difference? If you said yes, a career in real estate could be the opportunity you're looking for guiding people to one of the most important decisions they will ever make. The purchase or sale of their home can be both rewarding and lucrative. Exit Realty is a revolutionary compensation model, training and technology provides you with the tools you need to start and build your successful real estate career. Call me today. Robyn Collins, or R O B Y N Collins with Red Robyn Homes at 843-557-5003.
Episode 87: How A Good Network Helps You In Real Estate Investing with Christian Bachelder
CORWYN:
Good morning. Good morning. And good morning, guys. Welcome to another fabulous episode of Exit Strategies Radio Show. If this is your first time listening to this show, I want you all to buckle up, I want y’all to get your pen and paper, I want you all to get ready. Because we have this thing that we say here. And we don’t just say it, we mean it, which is our mission here is very simple at Exit Strategies Radio Show, is to empower our community through financial literacy and real estate education, guys, we’re legacy building. But those of you who may be watching me, y’all see me with my hands. I’m over here, I’m like pattycake pattycake baker’s man, because we’re gonna make you some money as fast as we can. Oh, that’s what we’re going to do here on this show today. So, guys, we are not gonna take much time today away from our guests. But I do. And I would be remiss if I did not say to our listeners, thank you, guys, for continuing this mission with us. Thank you guys for listening. Thank you for being a part of the show and being our family. Because guys, we have been bringing it to you. And we have been bringing the guest to you to help you to get to that next level. And many of you are taking the steps. So when I bumped into you and I see you, and I hear from you in the streets, I know that this content is helpful to you and that you guys are employing it. So we want to make sure that we continue to give it to you so you can get it done. So today is no different guys. We are very fortunate to have with us, a real estate investor. He is a real estate agent broker with us today. So he’s going to give it to you. So we have none other than Christian Bachelder with The One Brokerage. Christian, how are you doing today?
CHRISTIAN:
Pretty good. Awesome to be here. What an intro man. I love what you’re about, I love what this show does for the listeners. So excited to be a part of it. Appreciate you having me.
CORWYN:
Well, I appreciate you taking the time. I know you’re a busy guy. So Christian, if you do not mind for our listeners, give them a snippet, if you will, of who you are. And what it is that you do.
CHRISTIAN:
Yeah, absolutely. First and foremost, like most people probably listening like yourself, I would define myself as an investor. But in a close second would be an advisor, Advisor, and guide, I co-starred with David Greene of the BiggerPockets Podcast, The One Brokerage, that’s our lending company, I am also on top of that a real estate broker and an insurance broker. So kind of just believing that if we can bring the status quo of services in this industry a little bit higher, as you probably know. Unfortunately, 90% of realtors and lenders and insurance agents and everybody in this industry just aren’t very good. They’re getting the wrong advice, they’re getting the wrong guidance, and that trickles down to the clients that they represent. Right. And there are a few people that are pushing the industry forward and making sure people are getting the right guidance and, ultimately preaching financial literacy in America. And unfortunately, I think it’s a underserved, that needs these more people with that mindset.
CORWYN:
That is very fair. And I agree with you wholeheartedly about that. Many are not committed, and many through that work are only focused on a very small portion of the industry, which is the end part, we don’t focus on the people that we serve and all that stuff. And I ain’t go preach and get on that day to day, but what I will say is Christian, thank you for saying that. So, Christian, you have a history with this industry, that goes back for quite some time. Obviously everything that you give us today is going to be based upon appearances, and, and so forth and so on. But I’m gonna ask you this one, because I’m pretty sure this is something that you probably get very often, someone who’s looking to get started. First thing that they should do is what?
CHRISTIAN:
That’s a good question. One that we end up answering a lot, I practice this way of how I analyze– For me, it would be a client but for a borrower or listener, this could be this could be their situation, And I analyze I put people into like four main brackets, You I basically just take them down the list. Number one, they’re all going to rotate around skills and money. Okay, number one, do you have skills and no money? We need to target a subset of that skills that can lead to income, So that could be somebody who’s personable, somebody who has character, somebody who communicates well would be very good, obviously, as a salesman, That would be a real estate agent, a loan officer, tech sales, medical sales, whatever the case is. And typically those industries have a lower barrier to entry, because it is a lot more dependent on your skills, You can’t really teach somebody how to talk and how to communicate effectively. But that doesn’t matter if you don’t have that. Right. There’s other factors here. Number two, do you have money and no skills? The decent position to be in? I’d question how you got them, maybe inheritance and insurance claim, the lottery, whatever the case is, if you’re part of that sub sector, it’s all about guidance. It’s all about since you don’t have the skills or the knowledge. And this isn’t saying somebody’s completely unskilled This is hey, do you have a skill that will allow you to succeed in investing, right, an ability to analyze numbers and ability to target certain markets and ability to prospect good deals, Those are the skills that I’m referring to. But if you have money, you can get into it, you just have to make sure that you’re compensating for your lack of decision making, your lack of guidance, all those other categories, right. My third category is you got money and skills. That’s the people who are in the best case, my goal is to get all four of these categories into that class, bring you the skills, I can bring you the knowledge, the guidance, people like yourself, people likes podcasts, every BiggerPockets everything, Those are what you need to surround yourself in to get into this category. And the last category is people with no money, no skills. That’s unfortunately, where the vast majority of the population finds themselves. So I’m just being honest, as people who work in the day to day, pay stub to pay stub, and they don’t have an objectively definable skill that allows them to succeed in life, you’re doing a job. I mean, you have obviously some subset of skills. But for those people being that’s probably the majority of the population, I would say, there needs to be an active, concentrated effort in defining what I call moments of arbitrage online. So I did one recently, there was a client of ours who was an LVN, that’s a basically one step under an RN, and it’s a licensed vocational nurse, Okay. It’s somebody who maybe doesn’t have the registered nursing license or degree or whatever it takes to get there. So they’re making a nurse’s salary, but on the lower end, but after doing a deep dive in her finances, I saw that she had two cars for a single girl. She had a fun weekend car, and then she had her daily, and I was like, Okay, that’s interesting. I asked her how many days a week she works. And she worked four 12 hour shifts a week, between three and four. So she had three to four days not working. Yeah. And she had two cars. So I said, Hey, how much would you need for a downpayment and we ran it through, a $300,000 purchase for a primary which is what her her income roughly allowed her for. She need about FHA three and a half percent down, let’s call it 10 to $12,000. Let’s figure out a plan to save you 1000 bucks a month. What’s your car payment? Well, her second car payment was $450 a month. Let’s imagine let’s not just go to sell it because that is an asset we might be able to arbitrage. Her fun car ended up being. It was an older Audi SUV. That’s what her fun car was, I guess, funny. I typed it into Turo, if you’re familiar with Turo, it’s a car. It’s a car rental app. And I’m like, so how many days a week you realistically drive this car? And she said, Well, maybe one. maybe if I go on a date, I drive a nice car. Or maybe if I go out with family, I drive a nice car. I’m like, Okay, well, what if we rented it out the other six days of the week? Uh huh. Her car was renting for about $120 a day. Let’s just assume you rent it out for like 15 days, maybe even 12 days out of the month. So we just completely wiped out your car payment. Yeah. Right. So now we’re getting interesting. Okay, so now $450 a month times 12. We’re already halfway through our downpayment. Okay. Now, what do you do in your other three or four days of the week? Well, I rest because I’m tired after 12 hour shifts? Of course, what if I tell you, you can rest for two days a week, and the other two out of the four need to be dedicated towards either learning a skill or getting money? Something super simple. We said, hey, what if you take those two days out of your week and you go to the most expensive area around you. And DoorDash for two days or Uber for two days, but go to the expensive area where they tip well. And I watched this girl follow through 12 months and by the end of 12 months, I kid you not she had the money for a down payment and she now owns a property. And that was somebody that you define as no money she had not in her savings account and she had a skill she was a form of a nurse. But it wasn’t a skill that immediately led to an increase in income. But in 12 months of guidance and putting herself in the right situation led to her finding arbitrage opportunities in your life of both two cars. There’s an arbitrage opportunity there to make money. And time arbitrage. There’s time opportunity there for the four days a week you have off. Let’s rest for two, let’s work for the other two. Now you’re like every other American working five days a week. But you’re making a little bit extra money on the side and but just live on your LVN salary because you’ve already proven you can do that. Things like that. It takes sometimes an external eye for somebody to peer into your financial situation and see hey, what’s going on here. And to her, it was just like, Oh, I just have two cars. Doesn’t everybody have two cars? No, not not usually. But it’s not something that immediately hit someone if they’re not surrounding themselves with good advice, good guidance, good mentorship, And that’s ultimately I mean, I’m a broker. I mean, that’s not my job, I didn’t charge for that service. But that allowed her to eventually utilize my services and put her in a better financial position than when she met me, which is everything in real estate. That’s why you got– I’m so big and 2023. My big push for a lot of people who aren’t able to qualify with rates are down payments, or financial hardships, whatever it is, if you take this time where everybody else is complaining that nothing’s possible, and you go and surround yourself with the same type of like, obsessive financial pursuits from people like myself, people like you, people like David Greene on BiggerPockets, whoever, that’s going to lead you in 2, 3, 4 years, you’re gonna look back and say, Wow, that was the best decision I’ve ever made. Because now I got 1, 2, 3 houses, I got another car, I got more income streams. And it’s just because of that pursuit.
CORWYN:
Christian speaks to what we talk about on this show a lot is about mindset about having. I mean, that’s interesting. But what you did was you introduced your mindset, and in turn motivated, someone who, quote unquote, didn’t have the money didn’t have additional skill, and then in turn, assist them in getting to that next level, which is massive. So that’s some good word right there. I love to hear stuff like that, man.
CHRISTIAN:
Yeah, appreciate that. I mean, that’s, that’s the biggest thing in this industry, specifically, and probably a lot of others. But in real estate and investments in financial pursuits, you’re really only– even myself, you’re only as strong as your network. If you don’t have a good agent, if you don’t have a good once you have a rental property, a property manager or a maintenance guy, or whatever. I mean, I could fill in the blank with 100 different people. But if one of those people fail, I mean, what if your maintenance guy fails? If you want a short term rental and a pipe bursts? Oh, what if your maintenance guy sucks. And he says, Oh, I can’t get to your house for three months? Well, your bad relationship with your maintenance guy now cost you three months of short term rental income that could be that was right, and that you didn’t plug into your chart or whatever, if you’re working with a regular agent, or a regular lender, they wouldn’t have told you Hey, this is one of the most important concepts. So it’s just that it’s kind of this relentless, like almost obsessive pursuit of surrounding yourself with similarly minded people. And I mean, I’m a direct show of that. I grew up in a family that nobody owned a home. Nobody was successful. I mean, they’re successful in the web world, Yeah. But nobody was building generational wealth. Nobody was building the things that I can now. And it’s because I got a little taste of the information that these people can share, man, these opportunities as provided I just became obsessed with it to be honest. And there’s a lot worse things to be obsessed over.
CORWYN:
So let’s switch this up a little bit. You just hit us with something. I mean, that is a very, it’s not necessarily- I’m not gonna say a unique story. But it’s fundamental, we encountered this kind of stuff a lot. So let’s switch this over a little bit for someone who was maybe– similar question. For someone who’s looking to start with investing on investment property? What do they need to keep in mind as they approach that side of the fence?
CHRISTIAN:
Absolutely. Number one, I feel people need to find why are they investing? So the same way, I’m very big on like bracketing people, because I don’t believe that the same advice corresponds to everybody. So for instance, a lot of people invest for cash flow, they want to exit a W2, there’s nothing wrong with that. I would say that is difficult to do. It’s difficult to fully replace active income with passive income because passive income is active, For people who own real estate. It’s tough until you have the economies of scale to really, truly make something passive. But a lot of people have a desire to pursue real estate, I want my job to be real estate. That’s good, cool. You want to do real estate instead of UW2, that’s fine. Some people buy for retirement planning, I want income in retirement, okay. Some people buy for wanting generational wealth. I bring all these up, because this is what determines not only the advice that someone like myself would give, but it determines your strategy into acquiring properties if you’re looking more long term and you love your job, and like I don’t really want to leave, I don’t want to quit,I want to work out my my working years, but I’d love to subsidize a little bit. That means you may not be as in need of like that relentless like cash flow, You may be building some appreciation over time, you may want to pay down some principal and just have that property kind of breakeven. Most people probably land in that cash flow bucket though. So that’s the case I’d say first step to answer your question. This is a long answer would be getting– Number one getting with a lender, having to understand your situation and getting a solid pre approval. And if you don’t qualify, go back to the first part of our conversation. We got to find ways to qualify your money, your skills. But if assuming we can get you to that point, that pre approval and a relationship with the lender, and this is not a pitch for myself, I don’t care who you use for lending. If you use me cool, if you use somebody else awesome. Find a lender that you like, that resonates with what you’re trying to build and what you’re trying to grow with. And then go do that same thing and form a realtor partnership. Somebody who understands what you’re looking for, something who can help you target property is, somebody who’s familiar with the area and preferably owns property themselves, Because they’ve done it. I always use the analogy, would you go to the BMW dealership and trust the BMW manager driving a Mercedes? If he’s pitching you a BMW, and this is the best car for this price, and all the credit that he’s gonna throw at you. But then he’s coming to work in a in an S class, it’s going on there, You would think if you love what you’re selling so much, you should be the one driving it right. But yeah, once again, I don’t want to just take the cop out of surrounding yourself with good advice. But man, it’s like having a cheat code. If you can get with people who will just guide you effectively, when you’re new to the industry. Your first thing has got to be before finding properties before finding anything, find people. It’s got to be find people. And those people will help you find opportunity.
CORWYN:
That’s real. I say this thing, Christian to my agents. But people buy people to buy product. Oftentimes people want to sell something to someone, before they are real with people. Fundamentally, if you don’t care about people, people know that. I’m saying they know that. It doesn’t matter how much this is the third if you legitimately have no interest in seeing them succeed with the information that you give them. People know that, and internalize, why should they listen to you? So I don’t want to keep you on that. So let’s continue on this vein on investing. Oh, God, there’s so many different models, and people can do so many different things with real property and investing. What is the model that you favor? I won’t say it’s the only one you do. But what is the one that you favor?
CHRISTIAN:
Yeah, that’s a good question. I’ll answer in two parts. Okay. Number one is the asset class that I target. I love short term rentals. I love vacation markets. I love providing people an experience. I’m not all for the Airbnb buying up every house on the block of mom’s neighbor, I don’t really believe they belong in those sectors. There could be some, in vacation markets, but I’m big on like vacation destinations, places near the beach, places in the mountains, places on the lake, right. I resonate with that a lot. Because I believe my personal investing strategy includes buy what and buy what you love. This isn’t for everybody, A lot of people want the four Plex and downtown, that you would never live in, but produces good cash flow. That’s great. There’s nothing wrong with that. There’s just me personally, I’ve had retreats for my company, The One Brokerage, where we’ve gone and stayed in a couple of the properties that I bought, that’s like, incredible to me that I can go provide my guys an opportunity, like, hey, great, we hit our sales goals this quarter, let’s go take a trip to the Smoky Mountains in Tennessee, we stay in this big amazing cabin, we have a great time we go out on the lake, we go on hikes, like that’s really cool to me, right, that’s an added benefit of being able to buy that type of asset class. So that’s number one, amenities, experiences for people. But the overall greater strategy that I’m using is one that’s a little bit in depth here. So I’m going to break it down as well as I can. And kind of fun announcement, this is going to be the concept. I’m actually undergoing writing a book right now. Okay, and it’s going to be titled exactly, it’s gonna be titled One house a year, which is this investment strategy that I’ve laid out. And this could be for that LVN that we just talked about before, this can be something that she can implement, This would be something that absolutely anybody, if you plan instead of a 401k instead of an IRA instead of whatever else, right the country has told you is like the tried and true ways for retirement? Well, I think I got some a little better. So my idea is pick your asset class, if it’s short term rental like mine, if it’s the four Plex downtown, if it’s whoever it is, even if it’s a $50,000 house, if it’s $100,000 house, it doesn’t matter. If you can consistently buy one house a year, within your budget on 30 year fixed mortgages. Why don’t you run through the possibility of buying one, let’s say you buy a $200,000 house every single year 200, 200, 200, 200. That one you buy in year one in 30 years will be paid off. Assuming you keep it and you can refinance along the way, whatever the case is, let’s plan for a 30 year payoff though. Let’s say you’re 25 and you start this you want to retire at 55. So normal retirement age, you retire your first year 55. And let’s say you don’t have any 401k. You don’t have an IRA, you don’t have anything else, you need to have some social security, whatever. That first house that’s worth $200,000 has appreciated to probably three, four or 500,000. Now, let’s assume no appreciation, let’s take that out of the ballpark. Let’s just say we have 200 The rents have probably gone up from 2000 a month now they’re three, four or 5000 a month but let’s not assume that. Okay. So I’m taking all these assumptions out because people hate these assumption game with real estate, Oh, you’re just depending on appreciation? No, let’s take it out. I’m going to take that $200,000 asset. And I’m just going to do a cash out refinance. Okay, and I’m going to take that, now it’s paid off. So we’ll go and get $150,000 out on a 30 year fixed new one that the rents will cover so that $2,000 in rent will cover your $1,500 payment, whatever it’s going to be. And while that– to the, I don’t want to say to the layman, but to the person who’s not understanding its concept majors here, oh, you’re just taking more debt in your retirement? I don’t want to that’s not a strategy. Well, no, that asset just produce you $150,000 in retirement income in your first year. Best part. It’s not taxed. Show me a 401k that is going to distribute $150,000. The moment you retire, uncapped, untaxed, then will also pay for itself, on appreciating rents on an appreciated asset class, with all the tax benefits that real estate gives. So if I start adding back all these other things that I stripped away, now you have $150,000, in first year retirement, plus tax savings, plus appreciation, in reality that 150,000 was probably more like a three or $400,000 cash out with the appreciation, right. But here’s where it gets better. If you bought one a year, your second year of retirement, the house you bought in year two is now paid off. Yeah, you have cashflow opportunity there again. So now every year retirement, you can imagine, if I bought a house here, even if they’re $100,000, I’m creating hundreds of 1000s of dollars a year in income in retirement. And if you can’t go enjoy your retirement on $400,000 a year in income, go get some hobbies, Because that’s, that’s a hell of a retirement for 400k in tax free income every year, plus having appreciation plus having generational wealth, because these are able to pass down to your kids plus being able to 1031 and do all the tax deferred stuff that real estate allows you to do to like that’s pretty freakin cool.
CORWYN:
It is. That’s how this thing here man gets to be in. So Chris is I’m over here in my head. I even done the math yet. I’m just enjoying getting a 150 check every year. Because to that point, every year is okay, well, let’s cash out boom, Here, come that money. Let’s go do whatever we want to do. Now, if I worked for 30 years, somewhere, I mean, I probably got a retirement, they had to, I get to– If we got social security – That’s a whole nother question.
CHRISTIAN:
Exactly. It may not be there in 30 years
CORWYN:
Yeah, there may not be. But we factor that in in the 60s. Man, I mean, we talking about having $200,000 a year income. I’m saying just by simply doing this, every year and the wealth doesn’t stop, because we never sold the properties. And we just refinance took some money out of them. And we leave them for the next generation for them to continue adding on. And pretty soon, two, three generations down the road, your children’s children, is cashing out $300,000 a year between all their money. And that’s how they’re living. They’re living it $300,000 a year, which allows them to go make other investments to add to and all that stuff, which is everything man that we’ve been talking about.
CHRISTIAN
And I mean, you just imagined– I grew up in a family that I shared a little bit like none of this was the mindset, But I’m just imagining if I got a head start in life with, inheriting 30 houses, it’s like, I’m gonna shake your hand and I’m gonna say congratulations, I won. Like, I wpm the game of life, Like 30 houses no matter where they are, if they’re paid off, or they’re leveraged and their cash flowing, or even if they’re breaking even. And you have all that equity, like you kind of like already cheated like you won. You started with the cheat code, And I mean, if people are thinking generational wealth, and they’re considering their kids stability, and you’re worried about where the economy is gonna go, I don’t care where the economy goes, if your kids are inheriting 30 houses, they’re gonna be fine. I don’t care where we go as a nation, real property is always going to have value because it’s tied to the most basic human necessity. Housing. The most basic human necessity is a roof and four walls. That’s it? I mean, and water, I guess you need water. Which comes with a house, Yeah. So it’s like, if you can tie what your who knows where the dollar is gonna go? Who knows where cryptocurrency is gonna go, or stocks or, Apple may not be a company in 30 years, if they make a string of wrong decisions, who knows? Companies come and go, countries come and go. But like, you can’t get rid of land. It kind of stays here. And man, if you can tie the success and the future endeavors of your kids’ kids and their kids to the most basic human necessity. Plus, it’s the most beneficial and advantageous way to in the tax code in America the way that we currently stand. Man, it’s so difficult for me to just hear everybody say, Oh, well, I’m just dumping the max contribution into my 401k every year. I’m like, okay, but there may be an alternative here, right, like, hear me out. We just do this small strategy and just like my LVN client, we’re already planning her second purchase because this was about a year ago, So she’s gearing up for round two. And of course, for anybody who bought, in 2020 2021, you got a little bit of a shortcut because we had that 40 – 50% appreciation. even if we come down 15% this year, you’re still up 30. Right. And if you apply that in, maybe you can start buying a house, two houses a year, and you just started a little bit. It’s just, it’s something I get excited about. And it’s something that I just wish there was a finance class in my high school man.
CORWYN:
And it’s interesting, for all the information that’s out there, all the mindsets and all the people like you, Christian, who were okay who are forward thinking, who are trying to scream this from the mountaintop, to the masses, people don’t listen. And they miss these opportunities. Because that because they closed their eyes, they shut their ears. They tune this out, because they’re operating right here. Versus here. So thank you for that. So Chris, we have quickly gotten to, because I knew we was going to have a good time. And I knew we have quickly gotten to the end of our show. How can our listeners reach you? What’s your contact information?
CHRISTIAN:
Yeah, obviously, in just terms of getting a loan, my company’s called The One Brokerage. So theonebrokerage.com, all spelled out as our website, my email directly is Christian@theonebrokerage.com. Pretty straightforward. I think I’m on social media as the_one_broker with underscores. So the underscore one underscore broker, and I’m findable on BiggerPockets. If you just search my name, I’m super easy to find. But reach out. I mean, I’m happy to help anybody that comes our way. Even if it’s just, we don’t charge for like an application. Come talk to us, get our advice, get our guidance. Even if you decide to go somewhere else, no hard feelings. But I’m all about, as I shared in the show, man, getting in the right circles, and getting the right guidance is the shortcut. It’s the cheat codes to success. And then let us help if we’re that right guidance for you. Reach out, let us help you.
CORWYN:
So Christian, I’ve been asking all my guests, you are going to get this question. I want your mic drop. And so I want the one that, if I was to ask you stand on the stage after you finish, you just let the mic fall on the floor. If I said, What one thing, one nugget, can you give our listeners today that if you would have had this, or known this in the very beginning, it would increased where you got to and where you’re going man is very defined, and you’re killing it. But what would have expedited that process for you? If you would have known that bit of information back yonder when
CHRISTIAN:
The opportunity that you hear people talk about on these podcasts is not unobtainable. When I was young, I thought it was unattainable. I thought you had to have money to start, you had to have a cheat code, you had to have something. But the amount of information and progress that I’ve made as a person as an investor, as a guide, it’s not as far away as you think. It’s not this pipe dream pie in the sky of owning real estate. It’s not this pipe dream of becoming a millionaire like a millionaire is like three good decisions away nowadays. That’s how quickly stuff can change in this economy in this industry, the way the tax codes written. Man, three right decisions.
CORWYN:
Three right decisions. So that’s interesting, you should say that. So I’m gonna give you something Christian. And I forgot where I picked this up. Some years ago, I picked this up some years ago that the average millionaire goes broke three times. That’s how they get to because they fail forward. So it is interesting that you should frame this from the positive, it’s either glass half empty, or half full. So you frame this from the half full perspective of your three decisions away.
CHRISTIAN:
Well, I’ll tell you, and I know we’re close to finishing up here. Let me end on this. When I say a right decision, it doesn’t mean that doesn’t have to be a failure, or quitting right. Before I got into real estate. I was in a W2 situation. I was a chemical engineer, I went to UC Berkeley, I got a really highly touted degree, and I hated it. I hated it. I’m like, oh, man, this ceiling that I feel like a man, I gotta listen to my manager every day. This sucks. I don’t want anything to do with this. So I quit. Like that’s a failure. I went and got a four year degree, paid a bunch of money, went to debt, like did all the stuff that like was told to me it is the right thing to do. And I quit, I failed. That was one right decision on my way to three to becoming a millionaire. At the time, it felt like I failed. My family was saying what are you doing? You’re giving up a career that you did all this work in. But man, I realized that I was in that bracket of people with no money skills, right. And I had the skills of talking to people and advising people and understanding financials because I had that background and in numbers and math and engineering. And man quitting right there was the first good decision probably that I had made in my life, which is a weird way to frame quitting. But yes, like you said, average millionaire fails three times. I can’t agree for more with that.
CORWYN:
That’s impressive. Christian, thank you so much for taking time to be with us on the show today. I really appreciate it. Thank you for being a part of the Exit Strategies Radio Show family, to our listeners, guys, to our listeners. We’ve been bringing it to you this one here we dropped right here at your doorstep. Please open the door, please pick up the package, and please take it inside and do something with it to impact your family positively going forward. Y’all know how I feel? Y’all know what I say? I’m gonna put the two things together and I’m gonna deliver it to you this way. I love you. I love you. I love you. And we gonna see you guys out there in those streets.
