Quick Facts:

• Profit Strategy: Fix & flip
• Number of Units: 4
• Personal Money Invested: $1,100
• Amount Earned: $80k
• Prior Experience: Prior to finding Lance’s program, Wren had flipped approximately 40 single family homes

Wren’s Story

Wren came from a construction background. His father was a general contractor. Wren started pouring concrete as soon as he graduated high school. He discovered it was hard labor that didn’t pay well. He was broke and knew there was a better way.

Wren’s Call to Adventure

When he was only 19, he found a book at a yard sale with “a guy sitting on a Mercedes in front of an apartment building.” This find would radically alter the course of his life. He doesn’t recollect the exact title but recalls it as “How I Made a Million Dollars in Real Estate.” He shares, “the book hooked me. I’ve been interested in real estate ever since.”

His Early Dream

Wren’s early dream was to have freedom. That first book stimulated his dream of financial abundance. He describes, “I wanted to drive the Mercedes. I wanted to own the apartment building. And I wanted freedom.”

Wren tried to duplicate the lessons in that book he discovered. But reading that book wasn’t enough.

Wren’s First Big Lesson

In 1986, after reading the book and when Wren was still very young, he learned a harsh lesson about investing in multifamilies. He bought an REO from a bank. He recounts his experience, “it was fully occupied. I didn’t know anything about the landlord-tenant act. When I closed the deal, I went to the property to introduce myself as the new owner and to inform them I was raising their rents. I was educated very quickly about leases and the fact that you can’t do this. I made every possible bad mistake, but it was a great experience. I got a ‘college degree’ on what not to do with small apartment rentals.”

He provided additional details on this deal. “I brought in a partner for the down payment. My model was horrendous. I was utterly wrong on every possible metric.” He continues, “one month, I had a $1200 water bill, and I didn’t have money to pay it. The property was running negative, about $800 per month. That’s a big hurdle to jump over.”

He learned it is necessary to conduct regular inspections. These ensure the toilets are not constantly running and that the residents aren’t using their washers/dryers to do other people’s laundry. He explains, “in the unit that caused the high water bill, I’m confident that my tenants were washing everybody’s clothes. Residents were washing their cars out in the parking lot and not turning off the hose. I had to learn to implement rules on the property.”

The good news is he was able to pay his partner back, and joking, he says, “ultimately, I got out of the property with a little hair left.” He’s bald.

This experienced scared him away from investing in apartments for many years.

The Shift

Another book changes his life again.

Fast forward nearly 35 years. Wren discovered Lance’s book in 2020. It resonated with him. He explained, “it reminded me why I wanted to get involved in real estate. I took Lance’s course and Bootcamp. I signed up for everything he offered. I jumped in immediately and moved forward quickly.”

Wren’s First Deal with Lance’s Program

By this time, Wren had flipped approximately 40 single families. His first deal after Lance’s training was a four-plex in Tucson near his residence in Phoenix. It’s a fun tale of how patience can pay off. A wholesaler was trying to flip the contract on the small apartment building, but he couldn’t find a buyer. The wholesaler dropped the price several times. Before he ran out of his inspection period, Wren took the assignment for $2,000 over his contract price. Wren made $80K on this deal and only invested $1200 of his own money. He was off to a great start!

His Vision

Wren knew he wanted to work for himself and achieve the financial abundance he first dreamt about when he was 19. But now, he’s driven by more than the money.

He enjoys making a difference in his family’s life and the lives of his residents and their families. His work has helped people who buy properties from him because he “leaves some meat on the bone” and gives them a good deal. In addition, he provides an investment vehicle for people. He elaborates, “when people invest in my deals, they get a greater return than other investment options. I call it ‘lazy money.’ We put their money to work by investing it in a property short-term.” He is also committed to providing “attractive and affordable housing.”

Wren’s Personal Challenges

He described himself as “a shy person. It’s tough for me to even pick up the phone, talk to somebody, or send letters. I’m afraid somebody might respond to my letters! It scared the hell out of me to take those phone calls. I still get nervous to this day. And I’ve done a lot of deals.” He continues, “I guess I’m glad that’s the case because it keeps me from doing a horrible job. It’s an exciting experience every time.”

His Strategy

Wren uses an investment strategy that combines fix-and-flip with rehab-and-hold. He buys properties, fixes them up, holds onto them for a short while, and then sells them. He describes his process, “once I’ve bought it, I leave the rents alone. I know that is not how you maximize the return, but I want the residents to relax. I go into the deal expecting to hang on to it for about a year at least — maybe even two years. That’s my hold. I don’t do anything with the tenants for at least three months. I just let them get used to me as the new landlord. Once they calm down about the change, they can think without emotion.”

He’s also developed a process that is a win-win for everyone. He describes it, “I let the tenants fix the property up. We generate a list of things that need to be done and set a budget. The repairs get done while the property makes money from the tenants’ rents. No money comes out of our pockets. It’s a neat way to do it. Then the rents can be raised because the units are improved. When you put it on the market to sell, the property is perfect, and the buyer will pay you a healthy profit.”

He offered some great advice about being a landlord. “One thing to remember is your tenants are people. They’re dealing with issues. And so I believe in talking to them and listening. But I’m careful not to be their friend — I’m their landlord. I explain the rules. But I let them know that I realize they are human and sometimes have challenges. So I work with them to find a way through those challenges. There’s always a solution.”

Wren’s Success and Future Goals

Wren has nearly reached his goal of $1,000,000 in a year. He doesn’t have big dreams, just focuses on “living a good life.” Wren likes to travel and have adventures with his wife. But he has no intention of retiring. He explains, “retiring sounds horrible to me. Sure, I’ve taken time off, but I love doing deals. I love the ‘what if game.’ Whenever I find and analyze a property, I get excited about it. And so I love this business. I’m just going to keep doing it.”

He’s always looking for deals, even when he’s traveling. He suspects that he’s “not a very good date” for his wife. But he’s so excited about the market right now. He has a different attitude than many people. He shares his outlook, “everyone is scared of the market right now. That excites me because we’ve been in a seller’s frenzy for the last two or three years. Everything sold. All the ‘dogs’ are entirely sold. I am excited to find a deal, analyze it, go through the numbers, and not be rushed to make an offer. I can take time to negotiate with the seller and talk about creative financing. I love this. But I know it won’t last long because I know how these cycles go. We go round and round, and by the time everybody realizes we’re going down, we’ll start back up again.”

When asked about the future, he describes, “I want to do bigger deals. I would like to buy properties with 100 units. Lance has taught me it’s the same process, whether doing a 4-plex or a 100-plex. Just the spread is bigger. More investors may need to be brought in to make it happen. But I love that the profit might be $800K instead of $80K.”

Now that Wren has neared his $1 million in one-year goal, he wants to help others. He loves teaching people and sharing ideas about this industry. He enjoys walking them through the process.

Wren’s Perspective

Real estate has changed the way Wren looks at the world. Clarifying, he tells a story. “I was driving around with a friend and pointed to a building. I told him, ‘somebody owns that. Either a group of people or an individual owns that building right there. That building means a lot to them. They’ve invested in it and want to improve it. Buildings aren’t static. They’re not as stationary or stable as people think they are. They’re either living or dying. The landscaping is either growing, or it’s dying off. There’s always something that can be improved.’ I love thinking about the people who own and care about the property. I love the personal side of the structure, and I love figuring out how to improve them. That’s my favorite thing.”

His investment strategy is to “look for dogs with fleas.” He explains, “I look for a ‘dog with fleas’ that can be turned into a show poodle with just a little grooming. That’s why fix-and-flip is the perfect model for me. That is a fun game.”

Wren’s Advice

Wren suggests that investors look for deals everywhere. He explains, “the great deals are where the great deals are. That’s where you should invest. It doesn’t matter if it is in your backyard. Looking in your backyard to get comfortable is okay, but there are probably better markets to invest in.”

He recognizes how important having a positive attitude is. He says, “I believe in belief. I think that anything is possible if we’re willing to focus on it. Have a goal or dream and work towards it.”

His final advice is, “do it. Just do it. Take advantage of what Lance is offering, read the book, take the Bootcamp — maybe even go through the Bootcamp a couple of times. I’ve been in it three times and picked up a nugget each time. You also need to be willing to make mistakes. You’ve got to make offers. You’ve got to take action.”

Dive. In.

Quick Facts:

• Profit Strategy: Rehab and hold
• Number of Units: 3
• Personal Money Invested: $0
• Amount Earned: Projected annual NOI of $21,400
• Prior Experience: Roger’s only prior real estate experience was that he turned his first home into a rental property

Roger’s Story

Roger is a “senior citizen,” he explained with a smile. He thought he’d be retired by now, but he’s not.

Roger started his career in the tech industry working 9-to-5, but when the bottom fell out in 2011, he had to change professions. He switched to insurance sales.

He always knew something different — something better — existed for him. He was a “book junkie” constantly seeking a “better way.”

Roger’s Call to Adventure

His intro into real estate came when an insurance client decided to move east. They needed to sell their home, so he purchased it. However, he did “everything he wasn’t supposed to do.” It’s in the desert in California, and the residents love him. He still owns the house but decided to pursue multifamily real estate investing in a structured way to earn better money to retire.

He began pursuing different real estate investment models, wholesaling in particular but realized the required degree of effort and knowledge. He made “good money” on his first deal but decided to look for mentorship to streamline his real estate endeavors for the future.

Working with one of Lance’s coaches is what turned things around for him.

Roger’s Why

Roger has four grandchildren for whom he wants to provide advanced education. He now has 5 doors. Concluding that one door per child won’t get him to his goal and enable retirement, Roger decided to focus on getting more doors. At this point, he is shooting for 10 doors. He may increase that goal, but he’s starting there.

He’s fulfilling part of his mission, though. He doesn’t charge market rent because he likes to help “people who are deserving.”

Another dream is for his kids to take over his business. Roger’s daughter is a commercial real estate paralegal, which makes it a definite possibility.

Roger’s Obstacles

He was challenged by time constraints and funding sources. He explained, “other investors would beat me up with cash offers. I wanted to be able to offer cash and not wait on transitional funding or other funding sources that might delay the process.” Another challenge was “being too careful and overthinking.”

He described a valuable lesson he learned, “take advantage of opportunities. Act and strike while the iron is hot.”

His Mindshift

His job pays well, so he needed to make a mental shift. He recognized that matching his current income with passive income would allow him to retire with the same lifestyle. “I just needed to make the decision and have the confidence that I could do it.”

Roger’s Discovery

He learned he loved the challenge of real estate investing — and the process. He’s also “enjoyed meeting and talking with people who offer different ideas and perspectives.”

The Results

While Roger is still seeking additional doors to accomplish his ultimate goal, he already has more freedom. He’s been able to take his grandchildren on vacations. He reminisced about a beautiful trip to Hawaii when he and his wife were able to treat his son’s family (son, wife, and two kids) to a great experience. His life has certainly improved.

His Vision

Being financially independent would allow him more time to do the religious education he enjoys. He is “currently consulting with people who have suffered a loss.” He would love to be able to do more of this. He also shared his real estate dream, “what excites me is to offer solutions so that it’s a win-win for everybody.”

Roger’s Advice

Roger advises to “get a coach and stick with it. Chip away at the goals you’ve set for yourself.” He adds, “be careful where you invest. Do comprehensive inspections of the property. It may look good on paper, but doing your due diligence will reveal if it is. Follow Lance’s advice about keeping a broker close to you and keep communicating with them.”

Challenge. Yourself.

Quick Facts:

• Profit Strategy: Rehab & hold
• Number of Units: 9
• Personal Money Invested: $0
• Amount Earned: Doubled the value of the building since purchasing
• Prior Experience: Hoku and her husband had prior experience flipping single family homes, but no multifamily experience

Hoku’s Story

Hoku’s story is not conventional. When she was in her twenties, she and her husband lived in a tent on some land they owned in Hawaii. She was an entrepreneur, and he was a retired contractor. Life was exciting and pleasurable, but they had a bigger vision.

Hoku’s Call to Adventure

She was young and in a rough financial situation. She had savings, but it was dwindling quickly. She needed something that would generate funds right away.

She and her husband realized that flipping houses would capitalize on their combined skills. However, they had “zero experience.” She had “never even bought or sold a single-family home before.” 

They began investing in real estate. Hoku wanted to work for herself and be lucrative. She had owned other businesses but learned that working for herself and being lucrative were separate things. She explains, “I got tired of not making money. I worked hard but only broke even or made a small profit at best.” She realized she needed a solution. And she needed a retirement package because “working for yourself doesn’t provide an automatic retirement plan.”

In the early days, Hoku and her husband flipped more single-family homes than she could count. But the tiny knock-down properties in Hawaii were expensive — often up to a million dollars. Finding financing for those deals was their first obstacle. They branched beyond Hawaii for this reason, investing in Colorado, Indiana, and other parts of the country.

They learned financing was more accessible for small apartments because “there are more doors, existing rentals, and the property already has income.” She could have stumbled through small apartment investing, but she was wise and knew having a mentor would help her grow faster than she could on her own. She explains, “Lance allowed me to get the upswing. At some point, you realize you can’t do it all yourself — you need to have a mentor in the industry. You need to have someone who saves you from some of the stumbling blocks. I saw a lot of people making mistakes. They didn’t know how to analyze deals, made poor investments, and lost their retirement savings. It was dreadful to watch.” 

She and her husband sought education and met Lance.

Lance often says, “if you can have one roof and more doors, why wouldn’t you?” Hoku heard this message and thought, “that is absolutely brilliant. I hopped on a plane and went to the next available boot camp in San Francisco. I knew how to do marketing, so I came there with deals already in hand. I brought these deals to boot camp and asked how to respond to these replies from the letters I sent. I didn’t know what I was doing. I followed Lance’s instructions from the initial kickoff. Within that first year, we picked up a triplex, a fourplex, and a nine-unit building. We’ve been building from there.”

Her Goals

Hoku’s first financial goal was to earn $100K in one year. She achieved that goal and is now shooting to repeat a consistent $200,000 yearly in her real estate investments. She’s working towards having property managers do most of the work to provide her with passive cash flow.

Hoku’s Journey

Beyond finding financing for deals, her biggest obstacle was a lack of confidence. She describes herself back then, “I was living in a tent. I had no real estate experience and very few funds to my name. I didn’t feel like anyone would take me seriously. I was terrified to call brokers because I thought they’d see right through me. But I actually pulled it off. I don’t know how because I was terrified the entire time. I relied on my mentors and other investors for encouragement because I didn’t feel like I would be successful at it. I had a mounting fear that was huge the first year of investing.” 

She combatted her fear by “just digging in.” She didn’t have a job to fall back on, so her “back was against the wall.” She had to make it work no matter what it took.

She loves real estate investing, but perhaps she loves coaching even more. Before coaching, she never felt she was doing enough to give back to others. She felt empty. But now, she’s helping people achieve financial freedom and independence. 

Real estate investing has changed her life. Traveling and having financial independence are well worth the time and energy required to make wise investments. She explains, “when you have a bank account that works for you, your confidence builds. You get to a point where things don’t bother you, and what people say doesn’t bother you.”

She adds, “Now I’m in a position that many people envy. It’s all because I was willing to go get it.”

Hoku Today

For the last seven years, Hoku has been a small apartment investment coach on Lance’s team. She loves being a coach. “I found my calling. I love being able to learn firsthand how to run a real estate business and coach others on how to do it. My mission is to help people level up to the next level they are capable of. For me, that is as good as doubling the value in a house.” She declares, “I am living my dream right now.”

Hoku certainly sees her investments continuing to expand, but she’s most excited about her continued contributions to others. She says, “the more I work with people one-on-one and in groups, the more opportunity I have to influence additional people. The idea of influencing greater numbers of people to step up and be more effective in drilling through their barriers is exciting.” She shares, “I like myself more when I’m focused on my well-being and the well-being of my community instead of just one or the other.” 

Another way she adds value to others is by improving C Class properties for veterans and others who need clean and safe places to live. She provides residents with a higher quality home, positively impacts the community, trains others to do it, and creates a nationwide shift in investing and running apartments. And she’s making passive income and generational wealth in the process. As she said, she’s living her dream.

Her Mindshift

When she began, everything was scary. Everything was a challenge. Now she views obstacles as opportunities for growth. She says, “I lean into it. I look forward to embracing it. I determine how it will make me grow and grow with it. I no longer feel like I have challenges.”

Hoku’s Advice

Hoku insists, “don’t give up. The challenges you encounter are not what they seem to be. The barriers we throw up often come from our traumas, experiences, and fears that are inside us, making it seem like an insurmountable obstacle. When it feels that way, take a minute to address those internal emotions. With the feelings out of the way, you can face the challenge. The challenge has probably shrunk to a 10th of what it seemed because 90% of our stuff is from the past.”

Fears. Leave. When. You. Act. 

Quick Facts:

• Profit Strategy: Buy & hold
• Number of Units: 18
• Personal Money Invested: 20% down
• Amount Earned: $9k-$10k monthly cash flow
• Prior Experience: Joe spent almost 40 years as a general contractor for commercial properties, working on massive projects such as building 177 Walmarts and Sam’s Clubs.

Joe’s Story

Joe started his career as a construction manager for a developer. He was working Friday to Friday. He describes himself as a blue-collar guy who worked diligently every day.

Joe’s Call to Adventure

Joe has a B.S. in Construction Management and Business and spent almost 40 years as a general contractor for commercial properties. He worked on many massive projects, his most prominent being a $66 million truck manufacturing facility. Joe also built 177 Walmarts and Sam’s Clubs. He was successful, well-networked, and respected. Some would think he’d “arrived.”

Despite the industry paying well, he knew it would never provide him and his family with the lifestyle he strove for. He didn’t want to provide solely for his family — he had big goals for helping others, too. Resources were necessary to accomplish both pursuits. 

His Vision Develops

He knew he had to find a way to make his money work for him. He decided to pursue real estate and started with single-family properties. In fact, he did 27 of these deals but quickly got bored and considered other investment options. 

He moved into multifamily investments. After completing several smaller projects, he experienced a critical mind shift. He elaborates, “one of my investors shifted my perspective. This guy’s projects were in the $18- to $30-million range. I told him about an opportunity I was underwriting. But he wasn’t into it. I asked him how I could get him excited about it. He told me that it was too small. He explained that it takes the same amount of brainpower to do million-dollar-deals — or even $20 million deals — as it does to do the small ones. He pledged that if I found a $20 million project that works, he’d invest in it.”

Joe Seeks Mentorship

Joe sought help because he “knew enough to be dangerous.” He loves that Lance’s program is straightforward. He treasures the deal sheet because it allows him to easily and quickly identify viable projects. He expresses how Lance has helped him, “I needed an expert to help me get there. I didn’t need him to get me out of bed and go to work. I needed him to keep me from making stupid mistakes, but I was already motivated to go.”

Lance taught him that “with an 18-unit project, you can lose four doors and survive. It’s not pretty, but you can endure. If you have a portfolio of four duplexes and lose those four doors, you are immediately in the red. And that’s not a good place to be. I don’t look good in red.” He’s learned throughout the journey that “Lance’s model is spot on.”  

His Obstacles

In the beginning, one of Joe’s most significant obstacles was cash flow. He clarifies this, “I was starting with next to nothing. We did have some savings and equity in our home that made things a little easier. But as you grow, the issue is always cash flow and leveraging your debt. Every deal has a life of its own. When you look at projects — regardless of their size — you have to raise the equity or have it on your balance sheet, one of the two. If you don’t have it on your balance sheet, you have to find it. The good news is there are a bazillion people out there who want to work with people that are ‘getting out of bed and going to work.’ It becomes critical to develop relationships. All you need to do is make relationships. Talk to others about your projects. It’s a relationship process.” 

Before he tapped into his relationships, he had to rely on credit cards and his home equity line to invest in projects. His credit card debt grew, and he was limited in his expansion. 

He shares an example, “there was a time I needed $2.3 million to close. I was informed of this ten days before the closing. I returned to my Rolodex to determine who had that money. It came from a relationship with a guy who had wanted to work with me for 40 years. He loaned me $2.36 million. I’ve learned it’s all about relationships.”

His first deal after Lance’s training was an 18-unit building. The story of how he acquired the funds necessary for this deal exemplifies his gratitude for relationships. “I described the deal to my BNI group. I told them I was looking for a couple of equity investors. I had done successful private money deals with some people in that group, so they were immediately responsive. One of the members suggested I talk to her husband. I shared the numbers with him. I explained that I already had the financing secured and was just looking for the equity. He put up the equity, and I took the bank loan. In exchange, he received 30% of the deal. I retained 70%. I’ve done all the work, but I’ve done it with his money.” 

Joe’s Vision

Joe’s vision is to build passive income and legacy wealth and contribute to communities.

While he enjoys many activities — skiing, bicycling and traveling —  his true objective is to help others experience the same success. He explains, “when you aren’t worried about getting paid, the possibilities are endless. My goal now is to help others.”

His initial objective was to have 500 doors. He clarifies why his goal has expanded. “Five hundred doors is roughly an annual income of $500,000. It sounds like a lot of money, but it isn’t.” He is not being arrogant. He simply knows what it takes to accomplish his goals. He explains, “my big ‘why’ was to go to work, so I didn’t have to go to work.” 

Joe’s Dream

Joe loves real estate investing. His ultimate dream is to build a thriving business that his sons can join should they want to. He enjoys the work enough not to seek retirement. Still, he strives for financial freedom because of the opportunities it opens. 

He describes that financial freedom provides “the ability to live your life how you want to. You can choose how you want to spend time with your wife and kids. It allows you to travel, fish, play golf, or ride your bicycle without worrying about money or a job. It gives you options.” He continues, “financial freedom also means no debt. Life can quickly get pretty good when you don’t have debts.” 

Joe’s Goals

His goal is to own 2500 multifamily units. He’s also pursuing residential care projects and expects to have 180 assisted living beds within the next five years.

His story has already highlighted that he has philanthropic goals. He’s passionate about dogs and works with the Duo Dogs Foundation. This organization’s mission is to “train and connect dogs to people with specific physical, emotional, and social needs, creating a dynamic, life-enhancing duo.” He enjoys hunting and imagines having properties “with pheasants, grouse, and quail.” He works with an organization that trains hunting dogs.

“This business has been a complete lifestyle change. It has allowed me to go to my kids’ events, travel, and be outside. This business enables you to work wherever you have a good internet connection. I’ve closed a deal on a ski trip. It’s not all about making money. It’s about lifestyle and living the way you want to live.”

He explains, “we’re trying to fund a lifestyle. You’ve got to have a ‘why’ outside yourself, your family, and your charities. Your ‘why’ should be so enormous that when you tell others about it, they tell you that you’ve lost your ever-loving mind. When someone tells me there’s no way, I tell them to hide, get out of the way, and watch and see.” 

The Importance of Relationships

As previously mentioned, relationships are paramount to Joe. The importance of connections is multifaceted. Joe’s relationships have helped finance projects, grow his business, and expand his mindset.

First, he explains, “the benefits and longevity of multifamily investing are that as you help others by improving apartments, they help you pay down your debt. Paying down debt increases your equity, which gives you more liquidity, allowing you to go to the bank again to get another loan to do another deal. It gives you credibility. It also gives your business equity and structure.”

Helping Others

Joe’s always been passionate about helping others. Being financially free will just increase his ability to do so. 

He relays a story about how he was able to help one of his son’s friends. “The kid was smart but had made some bad decisions. His parents weren’t great, and he was living with someone else. The guy he was living with passed away. When my son went to help his friend move, he discovered him living out of his car. My son asked if his friend could move in with us.” Joe agreed. 

The rest of the story unfolds with Joe teaching him some valuable life lessons. Joe guided him to get a job and advised him to get a used bicycle instead of a new car. When Joe saw him smoking, he urged the kid not to waste money on cigarettes and girls. Finally, it was time for his son’s friend to move out. Joe helped him find an apartment. Then the young man fell behind on his rent and had to learn how to catch up. 

Joe describes what happened next, “here’s the magic. The kid calls me and says, ‘you trusted me when no one else would. You took a chance on me. You put your reputation out there for me. I want to tell you that I’ve decided to join the Marine Corps.’ I love that he is now on a path to success.”

Joe’s Advice

Joe describes the approach to use when roadblocks appear. “If you’re going to be in this business, you have to be able to be punched in the nose and get back up. It’s inevitable. There’s no perfect deal. We’ve had several very successful ones, but we’ve also had some that weren’t. But at the end of the day, you just can’t quit. If you stop, you have to go to a job. Whatever motivates you, put that on your mirror or your computer. I post quotes that inspire me: ‘get comfortable with being uncomfortable,’ ‘the impossible is possible,’ and ‘be daring.'”

He offers this advice, “throw a project away if you have to work to make it a deal. Don’t screw with the numbers so that you feel good about a bad deal. I made that mistake more than once, but you make it about three times and learn that if the numbers tell you not to do it, don’t do it.” 

He also shares advice that is imperative for any endeavor. “Don’t quit. Just don’t. Don’t quit. You’re going to get punched in the nose. You’re going to make bad decisions. You’ll have people you trusted lie to you and steal from you. You’ll go through some highs and lows, good and bad. You may want to quit because you think you can’t do it anymore. Then other times, you will say, ‘Holy Crow! I’m delighted I stuck with this because I got $2,000 in ‘mailbox money’ this month.’ It’s all about attitude, and it’s all about your ‘why.’ You need to make your ‘why’ so big, preposterous, and onerous that when you talk about it to your mother, spouse, best friend, or whomever they tell you, there is no way. And then you just respond, ‘stand back and watch.'” 

Build. Relationships.

Quick Facts:

• Profit Strategy: Wholesale
• Number of Units: 10
• Personal Money Invested: $0
• Amount Earned: $25,000
• Prior Experience: Before working with Lance’s team, Damon had previously dabbled in wholesaling multifamily with some hurdles, which almost pushed him out of real estate, but luckily stuck with it with the help of one of his childhood friends and mentors.

Damon was a firefighter and EMT. He was put in danger daily — earning only $12/hour — and knew this life wasn’t sustainable for him. He started a family at 18 and now has five children. In the early days, he worked three jobs to make ends meet. But even later, as a firefighter, he couldn’t pay rent on time and fell behind on child support. Needless to say, this situation wasn’t empowering. He knew he had to make a change.

“Getting emergency calls at 3 and 4 in the morning is very stressful. Some people love to do it. Some people are not built for it. I knew I wanted something different for my family,” he shares.

He read “Quit Your Job in 19 Weeks or Less” and “Rich Dad, Poor Dad.” Those two books changed his life. They changed the trajectory of his future.

Damon’s Call to Adventure

He wanted to start a business but had no idea where to begin or what type of business he wanted to pursue. Through self-education, he realized real estate was very lucrative. He also learned it could be a safer investment than the stock market because you acquire a tangible asset in the process.

Plus, when he was younger, he watched his stepdad buy inexpensive properties, fix them up, and make a good profit. Damon decided to dive into real estate investing. He raves, “it was life-changing.”

Damon thought he might pursue a similar model but has moved away from that. He’s closed on multiple wholesale deals and is working on a buy-and-hold. He can’t count how many wholesale deals he’s done to date, but he did share an often-recounted story of starting the business wrong.

His First Big Lesson

A handful of years ago, before working with Lance’s team, he completed his first wholesale deal. The deal profited roughly $2000. However, he had to split that three ways because he needed help from other investors. Then the other shoe fell. Shortly after closing the first deal, a woman trying to wholesale her house sued him. There’s a more extended version of this story, but the outcome was unfortunate. He couldn’t attend the hearing because he worked at the fire department that day. The judge awarded her $5000. Damon realized he was in over his head. He thought he knew how to wholesale properly but realized he didn’t. He wanted to stop investing.

As luck would have it, he connected with a childhood friend (Jay Jemmerson) who was successfully wholesaling properties. This friend mentored him, and the two of them started working together. Damon got experience with wholesaling and a fix-and-flip. In the process, he gained skills in repairing and renovating properties.

Damon’s Vision

Sure, Damon wanted income to quit his job, support his wife and five children, and create generational wealth. But more than that, he has always cared about others. His passion is helping other people, including helping homeowners who are in rough spots. He becomes a problem-solver for others.

Damon Discovers His Gift

As Damon puts it, “figure out what you are good at and discover your gift to the world. This is my gift. Once you find your gift, the money flows. It comes to you, and then you’ll be able to take care of your bills, debts, and family.”

Damon’s gift is helping people by simplifying their challenges. He feels great joy when sellers tell him he has improved their lives. This is his passion and what warms his heart.

As an example, he recounts a specific story. Damon’s wife helped him with a single-family deal. They made $15K on it. “But it wasn’t about the money at that point. The man couldn’t walk the steps anymore. He was a hoarder. His wife was getting sick inside the home. I was able to help move that seller and his wife to an apartment. I put the deposit down for them with my own money. I paid for the moving crew. After this, he told me how much I blessed his life. Knowing that I became a problem-solver was warming to me.”

Being able to help them was a defining moment for him. He knew, at that moment, that this was what he was born to do. Damon explains, “this was how God wants me to move forward in my life and help people.”

Being successful with real estate investing has made Damon “more helpful.” He shares that “some people say money changes a person. I believe money makes you more of who you already are. Doing real estate investing has made me more helpful. It has made me want to give more and the ability to help more people.”

The Financial Vision for His Legacy

Lance teaches mindset tools. One of those is a vision board, which Damon has implemented beautifully. He has a list of his financial goals and pictures on his wall of everything he wants for himself and his family, down to minute details. He reads his list daily and visualizes the dreams on his board.

Damon describes it, “I want to live in a certain type of subdivision. The house will have a pool, and I will drive a luxury car. My family will have vacation homes in multiple states. My new goal is to have a private jet. In fact, I’ve been looking into getting my pilot’s license. I would like to get that within the next year. And a small yacht.” The specific target for his bank account is $100 million. With his passion and gift for helping others, it’s easy to believe those goals are within reach.

Creating a legacy is a big part of his vision. He wants to be able to gift each of his five children an apartment building when they graduate high school. He hopes each child will live in one unit, rent out the others, and learn how to manage multifamilies. He wants to change his family’s financial forecast.

Real Estate Changed His Life

Damon discovered that real estate gives him a vehicle to help others. But he also learned that real estate opens doors to meeting people willing to help him. It has allowed him to take advantage of more opportunities — and bigger ones. He loves that part.

Damon shared, “where I come from, people tell you what you can’t do. That plays on your mindset. You learn not to believe you can do great things. Once my mindset changed, I had the paradigm shift.”

He surprised himself by closing on a 10-unit apartment building. He marveled, “I did that! What else can I do? Doing that deal made me wonder more: what else can I do?”

What else can he do? Well, he wrote a book, “Getting a Better Focus: The Basics of Wholesaling Houses With Little or No Money Down.” He intends to shatter the myth that you must have money to get into real estate. He knows firsthand this isn’t true.

Lessons Learned

Sometimes you don’t get to do what you want to do. Instead, you do what you have to do. Damon describes one of his lessons, “if I could do it over, I would keep the majority of the properties that I wholesaled and hold on to them. That’s how generational wealth is created. That is how to leave behind something for my children and their children.” But when he was doing the wholesale deals, he didn’t have money to hold onto them.

In some cases, it would have only taken $500. Damon pursued wholesaling because that is what his financial situation would allow him to do. And throughout his wholesaling, he profited at least $100K — not too shabby!

Damon also learned that being in control of the deal is immensely important. He lost out on a $15K deal because he allowed other people to control his buyers. From this experience, Damon learned to take charge of making sure the downpayment happens promptly and getting all the boxes checked. He elaborates, “it was heartbreaking, but it made me sit back and realize I need to revisit Lance’s training. Regardless of how many deals you close, go through it again and follow his steps. Lance has the blueprint. Follow his blueprint. I’m going through the blueprint again to avoid more mistakes.”

His Advice

Damon says listening to the right people was critical in his path to success. “If someone has a vision and you see it working in their lives, follow them. Learn what not to do and what to do. Be a follower of the right people. Growing up, your parents always tell you to stop being a follower and be a leader. Well, how can I do that? I have to follow someone who is already great.”

He also encourages others to not be fearful. “Break through the terror barrier,” he advises. “Don’t stay in your comfort zone. Push yourself to elevate to the next level. Don’t let fear hold you back.” He tells others to “just go for it. Stop thinking about it. Stop second-guessing.”

And finally:

Find. Your. Gift.

Quick Facts:

• Profit Strategy: Rehab & hold
• Number of Units: 8
• Personal Money Invested: $60k
• Amount Earned: $10k per year
• Prior Experience: With no prior experience, Chris works in technology

Chris works in technology. The income is good, but he knows his job will never give him the financial freedom he craves. He loves his profession and recognizes he’s fortunate in that regard. But he also knows that “it won’t last forever.”

Chris wanted to find an alternative to his career to generate cash without having to work full-time forever. Multifamily investing became his retirement plan. Even though he enjoys his job, he wants to be able to quit working when he’s ready.

Chris’ Call to Adventure

Chris seeks financial freedom through passive income. When asked about his “ultimate dream,” he explains that it is not in his DNA to strive for different end goals continuously. He elucidates, “many people constantly strive towards an end goal. But, once you achieve that, then what? That’s what becomes the next question. I’ve certainly persisted with achieving things I’ve wanted, but once I attained it, I would ask myself, ‘what’s the next step?’ You wind up in a constant cycle of chasing the next thing.”

He seeks “the ability to act on new opportunities.” Clarifying, “I don’t even know what those opportunities are. But when they come up, I want to be able to take advantage of the ones that interest me.”

His Vision

Ultimately, he’s looking for flexibility. His job isn’t flexible. He has to be in a particular area and do specific work. He wants freedom. Freedom to act on possibilities that arise. Those opportunities may take him to other places. He’s seeking the ability to be able to pursue those.

He believes in sharing this new worldview with his children. He has exposed his oldest son to this way of thinking and looks forward to helping him — and the rest of his family — become financially free.

Chris’ Realizations

Before Chris worked with Lance, he researched real estate investment options. As he explains, “most trainers out there were talking fix-and-flips which was a daunting task to me. I didn’t like the prospect of working all day and then renovating a house at night — or trying to get contractors to do it. Through trial and error, I learned I’d also be competing with people who do this full-time. Vying for contractor resources without the contacts is hard.”

In fact, he experimented with fix-and-flips, and they didn’t work out for him. But, buying-and-holding small apartments made a lot of sense. And through Lance’s book and training, he shifted his mindset to look at other areas of the country.

He learned that in some parts of the country, an 8-unit building could be priced the same as a single-family. Furthermore, when he ran the numbers, he realized that “buying and holding a building that has five or more units is a different strategy than a 4-unit building. You evaluate it and pursue financing differently. The numbers made more sense to invest this way.”

His Obstacles

Lacking knowledge was an early deterrent, as was the necessary mind-shift. But another obstacle he battled was balancing family time with spending time on his job or a new venture.

Funding deals has also been challenging. To date, Chris has used his own money. He recognizes this process is not sustainable in the long term. Learning to find investors is a critical next step.

Pushing Past the Barriers

Chris has been successful in his career and knows any new venture has hurdles. “Life is a bunch of challenges you have to overcome. If you are dedicated to the new venture, you accept those challenges and work through them. Some days you overcome them, and some days you get setbacks. But you keep going.”

Lesson Learned

Chris experienced firsthand that due diligence before purchasing is critical. “You might discover unforeseen repairs. Or perhaps a tenant is planning to move out. There are little surprises along the way; if you can see them in advance, you will be better off.”

Chris’ Advice

“Open your mind to new possibilities,” Chris recommends. “When you look at traditional ways of investing money, many say ‘stock market, stock market, stock market.’ I shifted my retirement money out of a managed retirement account. I moved it into a self-directed account — investing in myself versus the more traditional avenues. I’ve grown with this expanded perspective. I think others could benefit from this as well.”

Chris suggests people “stick with it. I did not jump in with both feet. I didn’t want to have things blow up in my face. For me, everything was little baby steps here and there. I learned about things, tried them, and discovered new opportunities. If you are considering investing in real estate, understand that there are a lot of different avenues. You don’t have to do it only one way. Find what works for you, buy what you’re comfortable with, and just keep at it. Real estate investing won’t disappoint once you find the right path for yourself.”

Open. Yourself. To. New. Opportunities.

Quick Facts:

• Profit Strategy: Rehab & hold
• Number of Units: 2
• Personal Money Invested: $30k
• Prior Experience: With a background of 35 years of working in finance and accounting, Michael had previously acquired 14 single family rentals since 2017

Michael’s Story

Michael tells a familiar tale. College, work, family, and striving for retirement. He received a Bachelor’s Degree in Accounting and worked for more than 25 years in that field. 

Michael’s Call to Action

Michael decided to take charge of his life and his future. As a W-2 employee, he never felt like his destiny was in his own hands. He explains, “I felt like I was working hard for other people. If I was successful, then I would get promoted so that I could work even more. And I said to myself, ‘this doesn’t make much sense.’ I wanted to see what else is out there.”

In 2017, Michael and his wife sold their personal residence, and they profited. It was decision time. What should they do with the money? He wasn’t comfortable putting it into the stock market. He didn’t want to park it in savings. He decided to invest in a single-family home to use as a rental. His future as a successful real estate investor was born.

Over the next few years, he continued in this vein: purchasing single families by leveraging the others. Things were going well, but he could do the math. After all, he was an accountant. It would take a long time to reach his financial goals doing it this way. He began researching multifamily. He knew this strategy would enable him to grow faster.

Michael realized he didn’t know enough about the details of a multifamily deal. He began studying up on it and, in the process, discovered Lance’s book, then his videos, and finally, his Bootcamp. These tools enabled him to purchase his first multifamily — an 8-unit building in Chicago.

Now he has some experience. In addition to his first 8-plex, he purchased several other duplexes. He’s fixed some of them, flipped them for a profit, and has held on to others as rentals. He’s been selling his single-family properties to leverage the profits to purchase multifamilies. 

Michael’s Vision Unfolds

Michael sought another stream of income and found it in small apartment investing. He likes the feeling of having “mailbox money.” 

He began asking himself, “What if I started working on real estate part-time and worked towards it being a full-time venture? That idea motivates me to get up in the morning.” He clarifies that his job in corporate finance and accounting isn’t bad. But he loves the idea of not having to deal with “complicated numbers and reporting systems” to earn money — and ultimately create wealth.

His Mindshift

Michael started thinking about money differently. He developed a direction he didn’t have before. His goal shifted to being an “accredited advisor.” He defines this term as having a million dollars or more of net worth outside of his personal residence. “I started thinking of wealth as net worth and cash flow. When I went through that mental shift, my financial situation increased.” He expands on this improvement, “I have a ten-fold opportunity in real estate that I didn’t have before. I decided I was no longer giving my money to somebody to put it in an IRA to go through the ups and downs of the stock market. Now I have someone paying me rent which pays the principal, and I benefit from appreciation. I now have new opportunities. Those excite me.” 

Michael’s Goals

Michael has well-developed goals. “My goal is to earn $80,000 a year through passive income. I want to minimize my debt and tax obligations.” 

He wants to travel to exciting places with his family. He has a son, two granddaughters, and an elderly mother whom he desires the freedom to visit. He seeks the flexibility and wealth to be able to see friends and family and impact their lives. 

A Rough Lesson

He experienced some significant bumps along the way. He describes a highly challenging situation. “I rented a place out to someone, but I didn’t know that he sublet it to his family, including an ex-con. The leaseholder was collecting rent from them, but I stopped receiving rent when a disagreement broke out. This happened during the pandemic, and I didn’t see money for a few years. The place was trashed. I couldn’t take any legal action. I finally got the guy out, and someone stole the air conditioner I had sitting out while fixing the apartment. My family hears these stories and is shocked. I laugh and know I own other units and can keep moving toward my goals.”

Michael’s Obstacles

His first significant obstacle was fear. “I had to learn to trust people. I discovered I had this mistrust of people. I was skeptical and thought they had something up their sleeves that would benefit them rather than me. I needed to get better at reading other people and situations.” 

He also experienced challenges with early repair bills from residents who had trashed an apartment. The cost to clean it up and the loss of rent were harsh. But he kept the faith that everything would work out.

His Life Changed

By seeking more flexibility and a renewed focus for the “last third of his life,” he has new options. Real estate gives him a way to meet his financial goals and attain freedom. Real estate investing has provided “a light at the end of the tunnel.” He’s zeroed in on what is authentic, meaningful, and contributing to his life. He clarifies, “I can add value to other people’s lives. That’s a game-changer for me. I’m achieving that through real estate.”

From his experiences with investing in small apartments, Michael focused on a purpose. He’s creating a legacy. His ability to read people and communicate with his wife has dramatically improved. His fear has dissipated. He further describes, “I learned how the world works. I see people with fantastic wealth, fantastic properties, and fantastic lifestyles. I feel like that is within my reach.”

The Future is Bright

Michael’s rents have increased, and he’s found some great deals. The value in his investments appreciated. He’s saving money on his taxes. Now he is pulling back on his 40-hour work week and spending more time with his family. Michael’s confidence has grown, and he knows how coachable he is. He’s focused and driven towards an exciting goal. Life is good.

His Advice

Michael offers a variety of sage advice, “be coachable. Learn at an accelerated pace. Overcome your fears and stay open to opportunities. Don’t get too high, and don’t get too low. Have balance in your life and take care of your loved ones. Play the long game because this isn’t going to happen overnight.” 

Maintain. Perspective.