![]() They spent 17 months living in Ecuador, learning Spanish and enjoying a slower pace of life. He and his wife decided to enjoy their newfound freedom by moving to Ecuador with their two children, ages 3 and 5. A few years ago, Chad realized that the passive income from his investments made him financially independent. Today they have 90 units between the two of them. He and his business partner stopped flipping homes and began accumulating buy-and-hold rental properties. He was running an active business he wasn't accumulating a portfolio of passive investments. While this was great, Chad wanted to transition into something that would provide a steady, stable income stream. They earned profits of around $20,000 to $30,000 for each deal. He and a business partner decided to start flipping houses themselves. But after awhile, he wanted to chase bigger deals. Wholesaling gave him a start in the industry. He was a recent college graduate without any official employment, so most banks weren't interested in offering him loans. The benefit to a wholesaling business, Chad discovered, is that he could get a foothold inside the real estate industry without much access to capital. He'd find off-market properties, enter into a sales contract with the owner, and then 'flip' the contract to an investor. ![]() By doing this, Chad started a real estate wholesaling business. If he noticed a home with an overgrown lawn and no curtains in the windows, he'd leave a note on the door, or he'd knock on the neighbor's doors to get the owner's phone number. If he noticed a 'For Sale by Owner' sign in the yard, for example, he'd dial the number. Whenever he noticed a property in disrepair, he'd ask if it was for sale. He started jogging around local neighborhoods near the university. As Chad viewed it, starting from zero meant he had nothing to lose. ![]() He wanted to become an entrepreneur, and he knew he was starting from zero. He graduated debt-free with $1,000 in savings from various odd jobs. He was a 235-pound athlete who attended college on a football scholarship. #150: Chad Carson's friends called him a "nerdjock." When former college football linebacker Chad Carson graduated from Clemson University, he decided to start a business.
0 Comments
Leave a Reply. |