How a First-Time Developer Built a $7.5M Project Without a Big Team | EP#72

What was the, what was the first type of real estate that you got into? So you're like, I want to get into real estate, not really sure which realm.

So what, what made you take the leap and what was the first type of project like?

So that was really what it was with my wife and I, we bought our first house and just kind of got familiar with the process of doing that.

It was a pretty old, old house from the twenties or thirties and

just got familiar with the process of

kind of, I guess what you would call, you know, now kind of a flip.

We didn't necessarily know that's what we were doing, but that's kind of what ended up happening.

So we bought an old house and did some repairs and just felt like we'd kind of grown out of that.

And a couple of years later sold it and made a decent return.

And then that kind of, we kind of got in early.

I think that was again, a benefit of being in a place like Lexington where, you know, pretty young age, we could get, you know, afford to buy a house.

I think our first house was like $87,000.

So it was just a very manageable market at the time when we bought that, I think in like 2013, 2014.

So it gave us the opportunity to kind of get started and kind of move up on the property ladder.

And at the same time then, then that kind of, you know, opened my eyes to the opportunities of that.

And from there, I just started kind of Very, very slowly in a very kind of low risk way, just kind of keep my eye out for opportunities.

And from there, just grew that to a few, to a small portfolio that ultimately came in very handy when it came time to kind of go all in on real estate.

Great.

So yeah, your first experience was a live-in, you'd modify the property and then use the benefit of being able to sell that property and then buy another asset that was maybe more you know, in an area you wanted to be in and leverage your active income to invest in real estate, which I think is beneficial to hear because there's a lot of people out there that are just like, oh, I just want to quit my job and do real estate full time.

But, you know, there's some challenges there, I think.

I've talked to many people before that, you know, I've said, look, it's not a bad thing to keep your active income because it makes it easier for you to fund deals.

It makes it easier for you to kind of build your portfolio as you're learning the trade, learning the business.

And if you hit a roadblock or have an issue, you know, that's five grand as an example, you have income coming in versus just being full on in the business.

And then, you know, where are you sourcing the money? Because it can be a little bit of a challenge.

So, you know, I appreciate the context there.