By Aaron Nelson, Jake & Gino member since 2018
At 4 pm on Friday, April 12, I turned off my company-provided laptop and let out a big sigh of relief. Three weeks prior, I had put in notice to resign from my 40 hour per week W2 job as a pharmacist, and my last day had finally come. I am now unemployed…sort of.
Over the past few years, I spent a lot of nights and weekends building businesses.
The first: As a licensed real estate agent in the State of Washington, I focus on helping people purchase cash-flowing investment properties to supplement their retirement, save for their kid’s college or cut their living expenses.
The second: My wife and I co-lead a company that purchases and repositions multifamily properties through strategic renovations that improve the lives of the tenants living there, while simultaneously generating nice returns for the investors. After honing our skills with multiple 2-4 unit properties, we decided it was time to scale up and joined the Jake and Gino Wheelbarrow Profits community to leverage the knowledge and experience of other investors who have successfully purchased and managed thousands of units. We recently completed our first commercial multifamily acquisition, a 30-unit apartment complex with strong value add potential in need of over $330K of renovation.
Needless to say, life had gotten a bit crazy. Being around other like-minded investors and entrepreneurs, helped me decide to transition from being a 10% entrepreneur to being one full time. Here are 5 things that quitting (one) of my jobs has allowed me to do in the past two weeks:
1) Think Henry Ford said, “Thinking is the hardest work there is, which is probably the reason why so few engage in it.” He wasn’t lying. When I was working two full time jobs, one as a pharmacist and another as a real estate agent, co-managing a portfolio of local rental properties and acquiring my first apartment complex, I was so busy running around and reacting that I had very little time to sit down and think: About goals. About strategy. About systems. The important things.
2) Focus I like to focus on one or two goals and go after them 110%. Before, it was easy to get distracted. There often were not enough hours in the day, and I am the type of person who hates to do a thing poorly. It takes a lot of time, effort and hard work to develop skill sets and gain proficiency. It’s tough to put in your 10,000 hours (to gain mastery) if the 24 hours per day are being divided amongst several jobs. I’ve been able to use my time to focus on what is important.
3) Get Organized I ordered a large wall-size 12-month calendar to hang on my wall so I can plan my day, week, month and year. It sat on my office floor for the past 6 months. That changed last week, and I now have a nice visual that displays all the amazing things I get to look forward to over the next year. Next up…organizing my receipts so my bookkeeper does not kill me.
Discover how apartments are the best investment vehicle to create wealth and generate passive income:
4) Flexibility Part of being your own boss is having control over your time…well, more control anyway. I’m still a husband and father to two kids; you can probably guess who actually has control. Nevertheless, this flexibility has allowed me to start pursuing the 20% of activities that produce 80% of the results. Last week, I went to lunch with a real estate colleague who I’ve referred a lot of business to and knew was interested in getting into apartments. The conversation led to a soft commitment for $500,000 toward our next investment.
5) Feel More Energized A wise man once said that if you can “find the intersection between your greatest passion and your greatest strength, you will feel energized by your work.” I am still in the process of working out my routines and learning how best to structure my week, but I am already enjoying the journey!
It has been an exciting journey so far, and is just getting started. If you are building your real estate portfolio, a seasoned entrepreneur, or just thinking about getting started, I would love to connect with you.
Email me at firstname.lastname@example.org.
Are you looking to follow Aaron’s path and pursue multifamily real estate to quit your W2 job?Go ahead and click on the link for more information
Aaron embodies our motto:
Congratulations to Aaron for pursuing his dream and for Making It Happen (MIH)!!