My name is Mitchell Patterson and I have been in construction all my career either as a commercial electrician while at Texas A&M or as a Project Manager in new home construction. I also spent six years in the waste industry as an Environmental Manager responsible for up to $20mm annual construction budgets in 13 landfills in Texas.

One fine day in January of 2015 my boss told me, that while I was doing a fantastic job in my new promotion, my bonus opportunity was being reduced by 33% and that there was no money for raises. A week later we sat in the annual company outlook meeting and were told how great the company was doing and that while we had missed some of the company goals, we had met a big one. That goal was to grow the company from 16% to 18% profit, actually hitting 19% which equated $750k to the owner.

Now don't kid yourself, I believe my job is to make the company money while making myself more and more valuable. Up to that point I had believed that if I kept my head down, working 50 hour weeks, constantly pushing my work load and taking on more and more responsibility that I would be recognized for a position in Land Development. Then I asked my Area President why my bonus opportunity was being lowered. He leaned forward, started poking his desk with his pointer finger as close to me as he could reach and said "Mitchell, you are making as much money as you ever will here, that Land Development position is two years off at least and even then I am not sure you are right for it. Now, I need to know that you are 110% committed to doing this job we gave you."

I immediately understood what Jim Rohn meant when he talks about the day you've finally had enough. I now knew what I was, or rather was not becoming with this company. Shortly thereafter, my wife asked me to attend the informational Rich Dad event on a Thursday evening and I was hooked. I attended the 3 day event, and while there was no way I was going to put 27K on a credit card for their mentorship, I was fascinated and hooked on the philosophy of cash flow.

My wife and I had kept our home in New Braunfels for a rental when we moved to SA in 2012. It performed great for us, cash flowing $400/ month and after 18 months the tenant asked if she could buy the home. We sold it, walking away with $43k that we rolled into our first small business, a CrossFit gym in downtown San Antonio. 10 months later the gym is exploding and were counting our blessing each and every hour.

The gym is located 4 blocks West of the Pearl Brewery in a HOT historic area called Tobin Hill. When we first took possession of our space I fell in love with a beautiful, but dilapidated 1912 Craftsman that had been unoccupied for 2 years. Vagrants were living in it and it was constantly getting warnings for the Vacant Building Ordinance (VBO) SA had recently adopted. Long story short, I tracked the owner down in Japan (Air Force lifer) and sure enough, due to the VBO, his holding cost were going up. He had always intended to return to SA to renovate and live in that home but now he was ready to sell.

After fumbling my way through the negotiations I finally was able to get him to tell me what he wanted for the home. He wanted $115k for the home and there was no way I could see to make that work with an assumed ARV of ~$250k based on comps. I suppose I should have tied it up and tried to wholesale it because two days after turning it down it went on the market and sold 4 days after that for $149k to an investor who is currently renovating it. It remains to be seen what he will get for it and I hope it turns out well for him. Seeing that home everyday is a constant reminder what happens when we don't take advantage of opportunity.

Since that time I have a couple of people bird dogging in the area bringing me leads and believe I'll have one under contract soon.

My goal is to build a cash flow machine that is cranking out $20k/ month in passive income. My why is lifestyle and travel and I am not ashamed to admit it. I will work however hard I need to in order to accomplish that goal. I'm here to learn and network and after listening to the last BP podcast of 2015 yesterday, #155 I believe, I have re-affirmed to myself that my goal is realistic, I have the mental capacity and mindset to do it and I am READY TO START!

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