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Finally quit my J.O.B.! After 7 years of investing!
It’s been about 7 years since I read the life changing book “Cashflow Quadrant” by Robert Kiyosaki and after 14 amazing years, I quit my full-time job!
This post has been a long overdue. I have been meaning to post this on BP for so long. I thought, what is a better way to start the new decade on BP with this post being the first of the decade!
BP is the place where I started my journey about 5-6 years ago. I have bought and sold multiple properties through BP. One such property, I still own and made it to the "post of the week" on BP. You can check it out here if you are curious: https://www.biggerpockets.com/forums/223/topics/236786-how-we-made-5000-on-two-weekends-ie-4-nights-on-a-135k-condo
I had a high paying job in NYC that I quit after several years of investing in apartment complexes in my spare time. My first full day without a W2 job was on July 4th, 2019 (Independence Day). It just happened to pan out that way for my exit and never planned for it but I am glad it happened that way. Anyhow, I decided to turn my hobby and passion w/ real-estate into a full-time business to help others build wealth away from Wall-St. Going forward, I will be focusing my time on the following two things:
1) Syndications: Putting together investment opportunities for people to invest for the cashflow and have their money work for them.
2) Education: I launched a podcast to help high-paid professionals on personal finance.
I started with smaller properties in my local area. Slowly, I expanded into 5 different states with SFRs, duplexes, triplexes. It also included one airbnb rental. Then slowly over time I realized that even though this is so much fun and I was spending day and night on this stuff, it is not scalable. I went with the route of syndications. Since then, I have sold most of my portfolio.
It's been about 6 months since I left my FT job. I am so grateful for BP nation & real-estate. I owe it to BP for all the knowledge, relationships, investments and a community of like minded individuals. This has given me the ability to spend time the way I want. Thank you everyone who has helped me along this journey.
With Gratitude,
Pancham
@Pancham G. Congratulations! You are where so many of us on here aspire to be. Good work
@Pancham G. well done! I have a question for you as I am chasing the same outcome; how much monthly cash flow did you have to achieve to walk away from your W2 ? I am just curious, thanks Todd
@Pancham G.
Congratulations buddy, that has to be the best feeling in the world. It is also my dream. I am in Houston now trying to figure it out so that I to can spend more time with my young family.
Enjoy!
@Pancham G. Thank you for posting this. It is great to hear from people who have achieved what I want to achieve. Hopefully one day I will make a similar post.
@Pancham G. Congratulations on the major progression! I am trying to roadmap my way into purchasing my first couple investments over the next couple year!
Congratulations! Numbers will make it even more inspiring. It will another example of "What average monthly cash flow was one guy was able to achieve in seven years.". And its only a request, you dont have to, but it will be nice if you did :-)
@Pancham G.
Fantastic! Congratulations on all of your profound accomplishments.
As someone who is looking to dive into the RE world, I would love to chat with you. I live around down the road from you in Carle Place...small world!!
Thank you everyone for encouraging and kind words! Many of you have asked to connect w/ me. I am more than happy to do so. Please PM me and we can set something up.
@Howard Herrington @Anuj Arora @Whitney Hutten @Jarrett Duncan @Andre Jernigan @Sid Shankar @Johnson Michael @Gena C. @Palmira Angelova @Kevita L. @Ola Dantis @Chase Kimbrell @Jesse Kindra @Zion Durham @Rajesh Kumar @Shaquitta @Clayton @Michael P. @Kevin Zolea @Rose White @Arty Fresh @Matt Bertsch @Todd Powell @Vincent Hawkes @Corey Hawkinson @Roshan Bhula @Rohit Verma @Donald Bondi
@Pancham G.
Congrats my friend! Love the post and it was great meeting you in Dallas last month as well.
If your going to Goals this weekend, my wife and I will be there. Looking forward to hanging and connecting again.
See ya soon and keep moving forward!
Greg Junge
@Pancham G.
Congratulations!
Thanks! @Greg Junge @Brian Glasspoole
Yes, I will be at goals this weekend @greg junge. Looking forward to catching up with you!
@Pancham G. man, congrats. How long did you acquire smaller properties for before making adjustments to scale the model? What would you say is the key to scaling the syndication model quickly and with maximum profit, if you could pack it into a single sentence?
I tried a few BRRR deals when I started. I realized they wouldn't scale, so I started treating REI as a business. Things changed dramatically + quickly when this mindset shift occurred. Suddenly, firing oneself from their job becomes way more realistic.
What really pushed you over the edge, and allowed you to leave?
Originally posted by @Pancham G.:It’s been about 7 years since I read the life changing book “Cashflow Quadrant” by Robert Kiyosaki and after 14 amazing years, I quit my full-time job!
This post has been a long overdue. I have been meaning to post this on BP for so long. I thought, what is a better way to start the new decade on BP with this post being the first of the decade!
BP is the place where I started my journey about 5-6 years ago. I have bought and sold multiple properties through BP. One such property, I still own and made it to the "post of the week" on BP. You can check it out here if you are curious: https://www.biggerpockets.com/forums/223/topics/236786-how-we-made-5000-on-two-weekends-ie-4-nights-on-a-135k-condo
I had a high paying job in NYC that I quit after several years of investing in apartment complexes in my spare time. My first full day without a W2 job was on July 4th, 2019 (Independence Day). It just happened to pan out that way for my exit and never planned for it but I am glad it happened that way. Anyhow, I decided to turn my hobby and passion w/ real-estate into a full-time business to help others build wealth away from Wall-St. Going forward, I will be focusing my time on the following two things:1) Syndications: Putting together investment opportunities for people to invest for the cashflow and have their money work for them.
2) Education: I launched a podcast to help high-paid professionals on personal finance.
I started with smaller properties in my local area. Slowly, I expanded into 5 different states with SFRs, duplexes, triplexes. It also included one airbnb rental. Then slowly over time I realized that even though this is so much fun and I was spending day and night on this stuff, it is not scalable. I went with the route of syndications. Since then, I have sold most of my portfolio.
It's been about 6 months since I left my FT job. I am so grateful for BP nation & real-estate. I owe it to BP for all the knowledge, relationships, investments and a community of like minded individuals. This has given me the ability to spend time the way I want. Thank you everyone who has helped me along this journey.With Gratitude,
Pancham
Congrats to you! Very inspiring story from you!
@Account Closed - thanks!
It's a great question. So, I acquired small properties first for about 4-5 years and then it turned out to be a lot of time commitment. Syndications was the model to scale quickly. I quit because I decided to pursue this passion of mine full-time. You can PM me if you would like to discuss more.
@Jose Lopez-Ley thanks!
@Ashley Zhang thank you.
Originally posted by @Account Closed
Elliott, i am currently stuck at how to scale. Would you mind explaining a little bit about " treating REI as business"? Do you mean syndication? Thank you!
Originally posted by @Pancham G.:
Hi Pancham, got a couple of questions for you. I have a couple of rentals currently, and i wanna to scale too. How did you transition from few properties to syndication? I mean how did you persuade people to invest with you? Also, where can i find your podcast info? Thank you!
Way to go @Pancham G., wishing you much success! Love your podcast.
Thanks @Ronan Donnelly
@Lane Kawaoka :)
@Ashley Zhang: For syndications, we had a some of friends and family who already knew what I was doing and were willing invest as they had "investing" problem. So, the way I look at the this is that I am solving a problem for the investors. Providing them opportunities to invest their money and solving their "money & investing" problem.
Originally posted by @Pancham G.:Thanks @Ronan Donnelly
@Lane Kawaoka :)
@Ashley Zhang: you can find the podcast information from my signatures. For syndications, we had a some of friends and family who already knew what I was doing and were willing invest as they had "investing" problem. So, the way I look at the this is that I am solving a problem for the investors. Providing them opportunities to invest their money and solving their "money & investing" problem. If you would like to chat more... PM me and we can chat.
Thank you pancham for your reply! I like the thoughts on solving problems for them! I would like to connect for chatting someday. I am going to listen to your podcast as well. Thank you so much! Congrats to you again!
CONGRATs, Pancham... Keep crushing it! Cheers
Originally posted by @Ashley Zhang:Originally posted by @Account Closed:@Pancham G. man, congrats. How long did you acquire smaller properties for before making adjustments to scale the model? What would you say is the key to scaling the syndication model quickly and with maximum profit, if you could pack it into a single sentence?
I tried a few BRRR deals when I started. I realized they wouldn't scale, so I started treating REI as a business. Things changed dramatically + quickly when this mindset shift occurred. Suddenly, firing oneself from their job becomes way more realistic.
What really pushed you over the edge, and allowed you to leave?
Elliott, i am currently stuck at how to scale. Would you mind explaining a little bit about " treating REI as business"? Do you mean syndication? Thank you!
Hey Ashley,
There's more than one way to treat REI as a business. The most important thing you can do if you want investing to become a business for you is to focus heavily on scalability. Scalability for a new business, from my experiences, relies most on finding the activity and operational model that yields a disproportionately high financial reward with the smallest possible time, resource, and risk input.
For me, that was a marketing and sales business that was highly systematic, and fine tuned to have no real bottlenecks early in the businesses' lifespan (besides data, which takes some detective work). If you take the money and time bottlenecks out of the equation, your business will grow if you have the right systems in place.
Wow, what a great thing for me to read today. You are living my dream. I hope to be able to go into REI full time in the near future, but I'm a newbie with a steep learning curve in frint of me. Congrats.