Building a $10M Real Estate Portfolio at 25 Using The “Wealth Formula”

Summary

In this episode of Multi-Family Mentor, Terence Doyle interviews Gabe Bowling, who shares his inspiring journey from dropping out of college to working for free in commercial brokerage, then at Cardone Capital where he raised over $100 million. Gabe's transition to establishing Bowling Capital, owning over $10 million in real estate, and his approach to goal setting and wealth building through disciplined income generation, saving, and investing in income-producing real estate are highlighted. His emphasis on taking responsibility for one's actions and the importance of a long-term, strategic approach to success resonate throughout the discussion.

Takeaways

• 😀 Terence Doyle introduces Gabe Bowling, emphasizing his impressive background and journey from working for free to owning over 10 million in real estate.
• 🎓 Gabe Bowling dropped out of college and chose to work for free to gain experience in commercial brokerage, which he leveraged to work for Cardone Capital.
• 💼 Gabe's experience at Cardone Capital involved making numerous calls to accredited investors, where he honed his skills in raising capital and fell in love with multi-family real estate.
• 💡 The importance of taking responsibility for one's life and goals is highlighted, as Gabe shares his mindset shift from life happening 'to' him, to him making things happen.
• 🏆 Gabe's success at Cardone Capital is attributed to his disciplined approach to wealth accumulation, focusing on income generation, expense management, and investing in income-producing real estate.
• 🚀 Gabe's decision to leave Cardone Capital to start Bowling Capital was influenced by his clear five-year goals and the belief in his ability to replicate the success he had as part of larger deals.
• 🔍 The process of finding his first deal involved building a solid foundation of investor relationships and partnering with an experienced sponsor to overcome his initial limitations.
• 📈 Gabe's first deal with his new company exceeded five-year projections in the first quarter, demonstrating the effectiveness of his strategies and the value of his experience.
• 🎯 Gabe's five-year goal is to manage a billion dollars in assets, which he has broken down into quarterly targets, emphasizing the importance of setting and working towards measurable objectives.
• 📚 He emphasizes the value of continuous learning and education in real estate, especially for those starting out, and offers free content on his website and YouTube channel.
• 🌐 Gabe encourages building relationships and networking, as he did with investors and sponsors, which was crucial for his transition from employee to business owner.

Q & A

What was the reason behind Gabe Bowling working for free initially?

Gabe Bowling worked for free to gain experience and leverage it into a better position. He didn't have a degree or experience, so he chose to work for free to quickly gain the necessary experience and leverage it for future opportunities.

How did Gabe Bowling's experience working for free benefit him in his career?

Working for free allowed Gabe to gain foundational knowledge in underwriting and real estate, which later helped him to confidently transition to working at Cardone Capital, one of the largest real estate companies, and eventually to start his own venture, Bowling Capital.

What is the wealth formula that Gabe Bowling adopted and how does it work?

The wealth formula Gabe adopted involves three steps: 1) Focus on producing income, 2) Store all earned money in sacred accounts that you can't touch, and 3) Invest the stored money into income-producing real estate that appreciates over time. This formula emphasizes growing income, living below your means, and investing wisely for long-term wealth creation.

How did Gabe Bowling's mindset shift from working for free to working at Cardone Capital?

Gabe's mindset shifted from being a victim to taking full responsibility for everything that happens in his life. This change in mindset allowed him to be proactive and make decisions that aligned with his goals, leading him to work at Cardone Capital and later to start his own business.

What was the process Gabe Bowling went through to leave Cardone Capital and start Bowling Capital?

Gabe went through a decision-making process where he weighed his options and goals for the next five years. He considered the quality of life, work hours, and financial prospects. After a clear vision of what he wanted, he decided to take the risk and start Bowling Capital, leveraging the skills and experience he gained from his previous roles.

How did Gabe Bowling approach his first deal after leaving Cardone Capital?

Gabe first built a foundation by creating a list of investors and potential partners before even looking for deals. Once he had a network in place, he identified a deal that fit his criteria, partnered with a sponsor who could provide the necessary equity, and successfully closed the deal.

What is Gabe Bowling's five-year goal and how does he break it down into actionable steps?

Gabe's five-year goal is to have a billion dollars of Assets Under Management (AUM). He breaks this down into quarterly targets, calculating the amount of equity he needs to raise and the number of investors he needs to engage with on a monthly basis to achieve his quarterly and ultimately his five-year goal.

How does Gabe Bowling define success in the context of his career journey?

Gabe defines success as achieving small wins compounded over a long period of time. He believes in the power of consistent effort and having a clear path to achieve his goals, rather than seeking quick riches.

What advice does Gabe Bowling give to people who are stuck in their current jobs and want to transition into real estate?

Gabe advises people to take action, create a clear path to their goals, and not be afraid of taking risks. He emphasizes the importance of having a game plan, being proactive, and taking responsibility for one's own life and career.

How can people get in touch with Gabe Bowling and learn from his experiences?

People can reach out to Gabe Bowling through his website gaybowling.com and follow him on Instagram at @multifamily. He offers free educational content and insights on multi-family real estate investment.

Outlines

00:00

🎥 Introduction to Gabe Bowling's Journey

The video introduces Gabe Bowling, a successful real estate entrepreneur from Tampa, Florida, who shares his inspiring journey. After dropping out of college, Gabe worked for free at a commercial brokerage and later at Cardone Capital, where he raised over 100 million dollars. Now, he is the founder of Bowling Capital, with over 10 million dollars in real estate. The episode focuses on his background, his decision to work for free to gain experience, and his subsequent rise in the real estate industry.

05:02

💼 From Free Labor to Multi-Million Dollar Operator

This paragraph delves into Gabe's decision to work for free to quickly gain experience in commercial brokerage. He explains his mindset of providing value and leveraging information to reach a position of influence. Gabe's experience led him to Cardone Capital, where he honed his skills in underwriting and raising capital, eventually becoming a top performer. His story emphasizes the importance of taking responsibility for one's life and career trajectory.

10:02

🏦 The Wealth Formula and Mindset Shift

Gabe discusses the key takeaways from his time at Cardone Capital, which include adopting a wealth formula and a shift in mindset. The wealth formula consists of focusing on income generation, storing money in sacred accounts, and investing in income-producing real estate. He also talks about the importance of taking full responsibility for one's life, avoiding the victim mentality, and the discipline required to achieve financial success.

15:04

🚀 Transitioning from Cardone Capital to Bowling Capital

The paragraph describes Gabe's thought process and decision-making when leaving Cardone Capital to start his own venture, Bowling Capital. He reflects on the risks and rewards, considering both the potential for financial success and the value of independence. Gabe's approach to decision-making involves envisioning his five-year future self and making choices that align with his long-term goals.

20:05

🏘️ Securing the First Deal for Bowling Capital

Gabe shares the story of his first deal after leaving Cardone Capital. He emphasizes the importance of building a foundation, which includes cultivating a list of investors and establishing relationships with potential partners. His first deal was identified through a broker and involved partnering with a sponsor who provided the necessary equity. The deal was successfully closed and has already exceeded its five-year projections.

25:06

🎯 Setting and Achieving Long-Term Goals

In this paragraph, Gabe outlines his ambitious five-year goal of reaching a billion dollars in assets under management (AUM) and breaks it down into actionable quarterly targets. He explains his strategy for deal flow, equity raising, and investor relations, demonstrating a clear path to achieving his goals. Gabe's approach to goal setting is methodical and emphasizes the importance of having a concrete plan.

🌐 Conclusion and Call to Action

The final paragraph wraps up the interview by highlighting Gabe's journey and the key lessons learned. It encourages viewers to engage with Gabe through his website and social media, offering free educational content on multi-family real estate. The call to action invites viewers to share the video, subscribe, and support Gabe's journey, emphasizing the value of community and shared growth.

Keywords

💡Multi-family Mentor

Multi-family Mentor refers to a role or platform that provides guidance and mentorship in the multi-family real estate industry. In the video, Terence Doyle hosts the show 'Multi-family Mentor', which is in its third season, and aims to share insights and experiences with its audience. The show is a central theme as it discusses strategies and stories related to multi-family real estate investment.

💡Gabe Bowling

Gabe Bowling is a real estate investor and entrepreneur featured in the video. He is highlighted for his impressive background and journey from working for free to raising over 100 million dollars and owning significant real estate assets. His name is central to the video's narrative as it revolves around his experiences and advice for aspiring investors.

💡Commercial Brokerage

A commercial brokerage is a business that provides services related to the sale, leasing, and management of commercial real estate properties. In the script, Gabe Bowling initially worked for a commercial brokerage without pay for 10 months, gaining experience and laying the groundwork for his future success in real estate.

💡Cardone Capital

Cardone Capital is a real estate investment firm known for its large-scale projects and educational content. Gabe Bowling worked at Cardone Capital for three years, where he honed his skills in capital raising and learned about multi-family real estate operations, which is a pivotal part of his career story and a key point of discussion in the video.

💡Raising Capital

Raising capital refers to the process of acquiring funds from investors to finance real estate ventures. Gabe Bowling discusses his experience raising capital for large institutional projects at Cardone Capital, emphasizing the importance of this skill in the real estate industry and sharing his insights on how to be successful at it.

💡Accountability

Accountability is the willingness to accept responsibility for one's actions and their consequences. In the video, Gabe Bowling stresses the importance of personal accountability as a key to success, suggesting that taking full responsibility for one's life and decisions is essential for achieving goals.

💡Wealth Formula

The wealth formula mentioned in the video is a three-step process for building wealth through increasing income, storing money in sacred accounts, and investing in income-producing real estate. Gabe Bowling outlines this formula as a disciplined approach to financial success, illustrating its application in his own life and its relevance to the video's theme of financial empowerment.

💡Passive Income

Passive income is money earned with little to no effort by the recipient, often generated from investments or assets. The video discusses the concept of passive income as a goal for investors, with Gabe Bowling advising that purchases should not be made unless they can be covered twice by passive income, demonstrating a prudent approach to financial planning.

💡Syndication

Syndication in real estate refers to the process of pooling funds from multiple investors to finance a property acquisition. Gabe Bowling's journey includes leaving a successful role to start his own syndication, 'Bowling Capital', which is a significant turning point in his career and a central part of the video's narrative.

💡Asset Management

Asset management involves the oversight and administration of assets to enhance their value. In the script, Gabe Bowling takes the lead on asset management for his real estate deals, showcasing his hands-on approach and expertise in optimizing property performance, which is a key aspect of his investment strategy.

💡Goal Setting

Goal setting is the process of identifying and prioritizing objectives. Gabe Bowling shares his method of reverse engineering his five-year goals into quarterly and monthly targets, providing a clear path to achieve them. This approach is highlighted as a critical strategy for success in the video, demonstrating the importance of planning and commitment.

Highlights

Terence Doyle introduces multi-family real estate investor Gabe Bowling, emphasizing his impressive background and journey.

Gabe Bowling shares his experience of working for free to gain valuable experience in commercial brokerage.

Gabe's transition from working for free to raising over 100 million dollars at Cardone Capital.

The importance of taking responsibility for one's life and career, as highlighted by Gabe's mindset shift.

Gabe's strategy for raising capital over the phone, emphasizing the need for a proactive rather than reactive approach.

The 'Wealth Formula' Gabe adopted for financial discipline, focusing on income, savings, and investment.

Gabe's decision-making process, focusing on long-term goals and the impact of each choice on those goals.

The process of leaving a secure job to start Bowling Capital, including the risks and rewards.

Gabe's first deal after leaving Cardone Capital and the strategy behind finding and securing it.

The importance of building a foundation of investors and partners before seeking deals.

Gabe's five-year goal of managing a billion dollars in assets and the detailed plan to achieve it.

Breaking down Gabe's ambitious goal into quarterly targets and the strategy to reach them.

The concept of 'small wins compounded over time' as a path to achieving big goals.

Gabe's advice on taking action and having a clear game plan to hit one's goals.

Resources available on gaybowling.com for those interested in multi-family real estate education.

Encouragement for the audience to share Gabe's story and insights with others.

Transcripts

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[Music]

what's going on everybody Terence Doyle

here multi-family Mentor season three

I'm super excited we've got gay bowling

in the building Gabe bowling from

Florida Tampa Florida hasn't seen snow

in 10 years he lands A dia and what do

we have snow for our boy Gabe so super

excited to have him here Gabe's got a

super impressive background if you are

out there and you're stuck in your

current job and you are struggling with

how to reach your goals how do I

accomplish my goals I have all these

dreams all this ambition how do I get

there this episode is for you gay

bowling right drop that of college as a

freshman

flunked out goes and works for a

commercial brokerage for free for 10

months then goes and works for Grant

Cardone Cardone capital for three years

raises over 100 million dollars now he

is on his own bowling Capital raising

capital and owns over 10 million in real

estate and this kid's gonna crush it so

if that resonates at all with you this

episode's for you so Gabe welcome to

multi-family mentors us man thank you

thank you thank you for having me out

anything I can do to help I know there's

a lot of people out there that I can't

help so let's help them yeah so let's

start out with why did you go work so

you drop out of college why do you go

work for for a commercial brokerage

Marcus and Mill chap in Florida why did

you go work for them for free well the

simple answer is I knew that you know

from a position of value what can I

provide to a company well I don't have a

degree I'm not going to hand a piece of

paper over and earn 50 Grand a year I

don't have that experience I don't have

the degree and so my situation there was

how can I go out and gain experience

because I can leverage the experience

and I can leverage the information that

I get there how can I get to that

position and get the leverage and get

the experience the quickest

work for free if you have the ability to

work for free do it

yeah so you were so you work for free

for 10 10 11 months just as a grunt

inputting data inputting t12s into a

spreadsheet so that people could

underwrite right and so but that led you

to Cardone Capital so talk a little bit

about like how that working for free for

10 11 months gave you the confidence the

experience needed to then go work for

you know one of the largest indicators

in the entire world if you don't know if

you're not confident about what you're

studying or what you're doing in this

case it was underwriting at the time I

had never seen a profit and loss

statement so you know if I'm trying to

go and interview for a big company like

Cardinal capital and I don't know any of

that well my chances are that I'm not

going to get hired because they're

looking for somebody that has a little

bit of experience and come in and can

work really hard but has the

foundational setup where they don't have

to waste six or 12 months on you getting

you spooled up and so I knew I didn't

know it was going to be Cardone Capital

but I knew that if I just put my head

down for whether it was the next six

months or 12 months I would be able to

get enough experience and information to

let leverage that into enough experience

for some the ideal Prospect for a card

on Capital to hire I knew that I could

be that ideal Prospect if I put my head

down and sacrifice

um you know a paycheck for 10 months and

so that's what I did so you essentially

just for everyone at home just so they

understand they're going to quantify

this you were living at your parents

basement on a couch useless I mean I

don't know about you but like you were

not making any money right and you had

the girl that you really loved he's not

your wife and she's amazing and I wish

she could be here and to working for

free 10 11 months she sends you a job

posting the next thing you know you are

working at Cardone Capital making

multiple six figures a year right but

you wouldn't have been able to do it

without working for free and learning

skills experience and watching people do

real estate yeah right 100 because 100

that's that's value like how again it

goes back to why why are you valuable to

somebody or an organization if you're

going to go the traditional route where

you're going to get your degree handed

over and then start entry level you're

gonna get 50 Grand a year or 60 Grand a

year or whatever it is I wanted to do

something different I wanted to be

unique well I can't do that doing the

traditional route and so that was my

route that I took just working for free

so while you're at Cardone Capital right

walk through the experience of what that

was like and what your day-to-day was

yeah you know raising Capital there for

these you know massive institutional

projects that we all see you know on

Instagram and Linkedin every day a ton

of phone calls like literally phone

calls every single day at least 75 phone

calls a day talking to qualified

accredited investors that have money

liquid liquid money ready to invest and

I'm spending 15 to 20 minutes every call

uh getting an investment out of them

that was my day-to-day and honestly on

the side like that's how I fell in love

with multi-family like the deal aspect

of it and the operational aspect of it

is as an employee you have access to all

of the programs that he has which is

thousands and thousands of hours of

content and there's hundreds of hours of

multi-family real estate education I

literally just went went home on the

weekend and studied it here's here's

access to it again it's free I didn't

pay for it and you don't have to do it

you don't like you're not ordered to

learn real estate it's just something

that I picked up on I was like wow this

is really cool I understand it and

through just looking at enough of those

resources I was like okay there like

this right here operating multi-family

real estate uh is where you can create

unlimited like you can create any type

of lifestyle that you want whether it's

100 a month in passive income or a 100

billion dollar company like you can go

like the vertical is so large you can go

as high as you want to fit your desired

life and that was so much it was it was

eye-opening because I saw opportunity I

was like okay this is what I wanted to

vote like the next 40 50 60 years to

because I know I'll last it's amazing so

what is the so for everyone out there

that's you know the question I get a lot

is how do you raise Capital right how do

you raise Capital so what were the two

takeaways that you would say you had in

terms of raising capital from people you

don't know not friends and family just

over the phone you know I thought you

know the times that you and I have

discussed this your perspective on it is

really interesting and I think valuable

for people so talk about your

perspective and what are the you know

one or two takeaways you have that made

you successful one of the top guys at

Cardone Capital when you were there for

raising Capital well number one is just

the the shift in how you operate I guess

you could call it mindset is instead of

allowing the the world and the universe

to happen to you and things happen to

you you get in the wreck and it's it's

not your fault uh having the having the

mindset of taking responsibility for

everything that happens to you in your

life like I'll give you a prime example

if I'm driving on the highway and I get

a wreck somebody runs into me you could

say you could simply say well that

person wasn't paying attention it's not

my fault you know it's their fault they

could have looked up I could have you

know gone a little a little bit faster

you know that's cool that is that's life

happening to you but in reality what

happens if you just properly prepared

your breakfast 20 minutes earlier and

you could have left earlier you would

have been in a wreck and so that's that

shift in how how much uh commitment do

you have to your goals and how important

is that to you and if it's important

enough you will literally make sure that

everything in your ecosystem is taken

care of versus things happening to you

if that makes sense I love that and I

think you know in the current system we

live in in the country I think one of

the things that concerns me the most one

of the most concerning things I see with

the younger generation is just that lack

of accountability that lack of

responsibility like I'm gonna take full

responsibility for every single good or

bad thing that happens to me and ask

myself what could I have done

differently are better yeah right what

could I have done better so I didn't get

in that wreck so I didn't lose my job so

I didn't lose that money I didn't lose

my car keys whatever whatever happens to

you right taking full responsibility and

not playing the victim right all over

the world right we see people just

playing the victim card and I think that

is probably one of the biggest signs of

a loser yeah right of like you want to

you want to see someone that's not going

to reach their goals and accomplish

their dreams that's that's the person

the person that always is saying well

this person did this to me this Banker

did this this investor didn't fund this

seller didn't do this this broker

whatever the things are this resident

lit this on fire yeah all those things

right I hear it every day every victim

mentality right take you want to reach

your goals accomplish your dreams and do

amazing things take full responsibility

yeah and I love that that's what they're

teaching you over there that's amazing

okay what's the so that so that's number

one take full responsibility what's

number two it'd definitely be the wealth

formula uh which is it is something that

I've adopted it's a discipline that you

use with your money personally

personally professionally and

financially uh the wealth for me is very

simple to understand it's 3 steps the

first step is you find a vehicle or a

vertical where you can put all of your

attention into producing income a lot of

times this is owning a business this is

being sales this is something what you

can even do it as an entrepreneur within

your company if you just put all of your

eggs into how can I produce my how can I

produce more income because you can only

reduce your expenses so low but if you

it's like multi-family you can reduce

your expenses but what happens if you

increase your income your noi goes up

right and so

focusing on income is very important

because a lot of people like to start

things and they like to spend a lot of

time on operations they like to spend a

lot of times on systems and back-end

stuff just focus on producing more

income and you'll find that developing

skill sets to produce more income will

ultimately help you over the long term

because the second set is or the second

step of the wealth formula is to store

all of the money that you're earning

into sacred accounts that you can't

touch so this is for the 25 year old

that is going out and buying Gucci and

stupid stuff like if you I have a rule

if you can't pay for it with passive

income twice don't buy it passive income

meaning invested cash that is producing

income not hey I just earned 50 Grand

now I'm gonna go blow it on a car a lot

so walk me through that again I think

that's really interesting so your your

motto is if I can't pay for it twice so

let's just take a car yeah you buy a car

for twenty thousand yeah so that means

if you don't if you don't have forty

thousand a year of passive income don't

buy the 20 000 car is that the equation

if the the twenty thousand dollar car is

gonna have 300 a month of payments yeah

whatever that liability is rather it's

305 so make sure that you have at least

600 a month coming to pass it yeah

exactly in that in that example like

like a thousand dollar bill I can't

justify like because you'd have to have

two thousand dollars yeah yeah okay yeah

if it's something with like uh you know

recurring payments yeah I'd always

double got it interesting okay and so

the first one is grow your income yep

the second one is live store away cash

below your means it doesn't have to

happen and I'm talking to the I'm

talking to the 25 to 35 year old that is

in the position where if you can live on

40 Grand you're making 100 Grand live on

40 Grand don't go out and don't make a

don't make 100 Grand and live on 100

grand

make 100 Grand and live on 40 Grand if

you can do that and store the 60 Grand

away and invest it into which goes into

the third one which is investing it into

income producing real estate that goes

up in value over time so you can call it

um you know multi-family I'm biased I

like multi-family

um and the idea of it is you know you

make 100 Grand you store uh 40 Grand

away and you can repeat this over a 10

or a 20-year period you invest 40 Grand

a year every single year in the

multi-family that money starts working

for you and then guess what it starts to

hit the double how many times can you

hit the double and over a long period of

time

your principle that you invest will

become large enough where it produces

enough passive income where you no

longer have to actually actively work

have a day job yeah so that's the wealth

formula that is right that's what they

teach you at Cardinal Capital the world

formula yeah and I just want to make

sure I'm summarizing this right so we're

on Savage so grow your income yes find

something you're good at and and sell it

grow it yeah grow your income right your

expense is gonna go so low and I totally

agree right yeah going back to

multi-family you can only get taxes and

insurance so low right yeah they have a

they have a floor yeah and it's pretty

high these days right and so what can

you do though you can grow rents you can

look for other income you know pet rent

all these other things we talk about to

grow noi so grow your income number two

find ways to stash cash right put it

away you're not touching it yeah and

your equation is if you can't pay for it

twice with passive income don't buy it

don't do it I love it right and number

three is take that passive cash take

that cash that you saved and invest it

into Cash flowing real estate yeah great

yeah right three things for the wealth

formula 100 I think that's amazing the

biggest thing to take away from that is

it will not like you focus on getting

rich for sure not quick wow that is huge

like get rich for sure because you live

how old are you 30 I just turned 39

Perfect You're Not Gonna Die hopefully

praying you're not gonna die for another

50 years right ish right so why do you

have to get rich tomorrow you don't you

have one life get rich play the long

game there's a for sure like I don't

want to move fast I want to move

correctly right it doesn't matter in the

right direction yes because you can move

fast and wrong and then you can fall

quick but if I move slow and correctly

that you get big enough where you're too

big to fail it's amazing so that's

incredible I hope everyone rewinds that

multiple times memorizes it writes it

down and really takes action you know

one of the things that I love about you

from the first time I met you is just

your desire and your motivation to take

action right so taking action on this I

think is going to be life-changing for a

lot of people out there so talk about

you're learning all these things you're

making a bunch of money multiple six

figures you're seeing hundreds of

millions of dollars get acquired in

multi-family real estate

what was the process what was the

thought process you went through to

leave that amazing opportunity to go and

start to start your you know bowling

capital I mean I had to imagine that was

very difficult yeah you know because

you're making a lot of money yeah uh

it's very people call me crazy too like

today even my parents called me crazy I

was like hey I quit uh walking away from

you know 200 plus Grand a year and uh it

kind of took some time for them to

understand it but

um you know the process I'll break it

down into two things the first process

is

through working there for three years I

probably saw I don't know 15 maybe 18

different transactions go from start to

finish how did we identify it how did we

raise the money what was the legal

process what uh like how did the debt

like everything all the entire process

start to finish 18 different times and

so when you can do that on a large scale

and be a you know an integral part of

the team you start to believe in

yourself a lot more just through

repetitions and actually doing stuff

there and so it was a mix of being a

part of the deals and asking myself can

I actually do this because you have so

many things that go through in your head

I can't do this people are going to tell

you you're 24 you can't raise money you

can't find a deal no Brokers are going

to respect you but it goes back to you

know taking full responsibility how can

I do this and so that was the first part

the second part is

how I weigh decision or how I yeah how I

weigh decisions is I look at the five

years the five year version of myself

and I know because I'm so clear on what

I want out of my life in the next five

years every decision that I make is very

simple

if it gets me closer to my goals then I

do it if it takes me further away from

my goals then I don't do it and so I had

to make a decision what's my goal and so

I really long talk with my wife really

just sat down peeled back the entire

curtain no emotions attached what do you

want out of the next five years and we

agreed we're like hey this is what we

want this is how many hours like it got

that nitty-gritty how many hours a day

do you want to spend together

what type of quality of life do you want

and so that was us creating the image

creating the goal and then for me it's

like okay I'm in this golden I call it

the golden opportunity because in that

position because the timing that I

entered and I was considered you know a

top guy there part of the their team I

was good like I could have stayed there

for another 10 years and then a c-level

executive making probably a million

dollars a year in the next 10 years and

so I look at that I'm like okay well

that's going to be really tough to beat

a million dollars guaranteed a year of

income well if I invest it correctly I

should come out with about 50 maybe 100

million dollars in net worth by the time

of 50. but at the cost of what at the

current position 12 to 14 hours a day

current quality of life with my wife and

so I look at it and that's one option

the second option is what happens if I

do break off and try to go out and

create Boeing capital and create this

big ship and I just weighed the

opportunity I was like okay well

I'm 24. if I go out and I suck I can't

find a deal let's say I don't buy a deal

for two to three years and I can't make

any money and I'm broke you're back on

your parents couch uh yeah I'm back on

my parents couch I have a resume that

says I raised a hundred million dollars

I'm effective I can talk to accredited

investors get money out of them I I have

a skill set I have a valuable skill set

I know worst case scenario everything

fails I find another operator another

syndicator they hire me I'm back at my

200 300 Grand a year that was my worst

case scenario best case scenario is I go

to 100 billion create the live get like

donate uh like hundreds of millions of

dollars we're big dog people uh we want

to do big very large uh charities for

dogs that's our thing that's that's like

a lot of people love their kids we love

dogs that's just us my wife and I and so

we're like all right well let's just

take the shot and then once we committed

that's the biggest thing once we

committed we were like okay we're all in

let's make this happen let's actually do

it because a lot of people talk about it

they dream about quitting all this stuff

they never do it because they're too

scared right Having the courage to do it

was the hardest thing to do but it was

also the best thing that I ever did I

think that's amazing and I hope everyone

really like lets that sink in of that

process you went through because I hear

so many people around the country every

single month talk about I'm in this

really good job but I want more I want

to be in real estate I want to be able

to Syndicate I want to I want to own

multi-family I want to own whatever it

is and they're stuck and not willing to

take that risk and go through that

process you just made and there is risk

right I mean it's painful obviously you

know the the probably the amount of time

you're putting in right now is probably

the same as it was more Cardone or more

right more risk but you're being able to

do it for yourself right so talk about

your very first deal right your first

deal you leave Cardone capital and

you're doing your first deal tell us

about how that got done and what it was

like yeah so before I even found the

deal I built the foundation of it so

what I see what I mean by that

quantifying it is I was building a list

of investors that knew who I was not for

not you know not gay bowling with Grant

Cardone but a bowling like it was a

relationship between me and them and I

was building a pipeline of investors so

I knew that I would have some ability to

raise money because friends and family

for me I don't have any Rich uh friends

or family like I don't and a lot of

people don't either and so I was like

okay well how can I do it I'm building a

pipeline of investors and then I'm also

building a pipeline of different

sponsors that could help me get a 10

million dollar deal over the Finish Line

because at the time I don't I can't sign

on the debt I don't have the ability to

sign on it I don't have four million

dollars to invest of equity and so

I built the foundation of the

Necessities to close a deal before I

even started looking at deals and then

once I've identified okay I have Equity

that I can raise and I have partners

that I can partner with now it's time to

go out and look for deals what's my deal

criteria I filter it out 48 to 100 units

uh 1980 to 2000 like I have all this

criteria and I quit on February 1st it

was my last day February 4th I get an

email from the same broker that I

interviewed with four years ago when I

first started at Marcus milchap saying

55 units just listed Daytona Beach

Florida I underwrite the deal uh I walk

the deal I talk to Ned I get like the

deal going and then I find the sponsor

it's a perfect plug-in because that

sponsor raised money but he didn't have

any deal uh good deal flow and so

because I had the relationship with him

prior I built it I'm building this

before I'm going out doing the deal hey

Ken how you doing I found this deal you

have Equity your targeted returns are

you know 15 to 20 I think this is a

perfect home run deal I need help

getting getting it across the Finish

Line it's too small for you to pay

attention to for Asset Management I'll

take point on asset management and I'll

raise a million bucks for it and I found

the deal will you partner with me and so

it was a really easy decision to partner

with me because it solved his problem

and he gets to be a passive General

partner and still get the general

partner returns with me doing the work

and him kind of being the back seat on

it and so we found the deal identified

it put the or closed on it in June and

that deal we are we've already

outperformed our five-year projections

in the first quarter of owning it

amazing so it's almost like going back

to Marcus and milchap right you're kind

of like being an understanding

Apprentice again yeah except now you own

10 million dollars in real estate and

you're getting paid to do it but you're

back learning from someone that has

experience and knowledge that you don't

have and getting to perfect that so I

mean I think it's an incredible story I

think there's so much to unpack there

and I love your journey I think the last

thing I want to leave people with is you

know talk about your five-year goal and

how you're attacking that all the way

down to like on a quarterly basis what

you need to do yeah you shared this the

first time we met I thought it was

amazing it really impacted me yeah

because I mean I have big goals but I

have not distilled them all the way down

to okay what does that mean I need to be

doing the next 90 days right the next

quarter what does it look like so share

share a little bit about that yeah so

I'm 25 today my goal over the next five

years by the age of of 30 is to have a

billion dollars of AUM and right now I'm

at 10 million so I'm 990 million dollars

away right at least seems like a really

big daunting dad or daunting task and

but it's really not because success is

really just small wins comp or

compounded over a long period of time

that's really like I've studied a lot of

people it is small wins over a long

period of time and so all I have to do

to get to a billion dollars is well if I

have six full years to do it that's six

years that's how many quarters that's 24

quarters over the next six years a

billion dollars divided by 24 comes out

to 43 million dollars a quarter 43

million dollars of uh volume is about 15

million dollars of equity roughly now

what do I need to do to one have the

deal flow to look at and acquire 43

million dollars of deals because every

deal that I buy I probably look at 50 to

100 deals to actually look at it right

so now I have a target of deal flow

you have to find the deal to buy it and

then okay how do you buy the deal you

have debt and you have Equity well I

have the relationships with the lenders

they'll show up what's the one piece

that I can control more is equity where

am I going am I going the institutions

am I going to retail I'm going to retail

investors what's the average investor

invest with me 50 to 100 Grand let's

just say it's 100 Grand my goal is to

buy a billion dollars over the next five

years but in reality it's 40 million

dollars every quarter which is 15

million dollars of equity from investors

which is only 150 people at 100 Grand

each so now my target my daily action is

okay well 150 people a quarter and

here's the tricky part because those 150

people will reinvest every single deal

that's how I know I'm wrong but I'm

wrong in a good way I find these 150

people over a quarter that's four months

that's 25 people a month now I have a

monthly Target what do I what do I need

to do every month I need to find 25

people that will invest with me well not

all 25 people are all going to invest at

one time that means I'm going to build a

pipeline of 75 people a month that can

invest 100 Grand and then when I call

them on a deal if I can get 30 of my

entire pipeline to invest I'll hit my

target yeah it's amazing so I think

that's incredible so you've distilled it

down to like every quarter you need to

buy around 40 million dollars that means

you need 15 million of equity 15 million

of equity is how many phone calls how

many investors how many pieces of

content how many networking events and

you know the goal you know the point of

that exercise for everyone out there is

not are you going to get to a billion

yeah whether you get to a billion or not

is really irrelevant because you're

probably going to surpass it you know

what I mean but even if you don't the

fact is you went through an exercise and

force yourself to actually have a game

plan and a path to hitting your goal

which is what I think is really lacking

right is most people's plans and and

most of their goals is they don't they

haven't even created a path of how do I

actually accomplish that yeah just to

give myself a chance so I think that's

incredible

um you know I'm super thankful you came

out here I love that we had snow for you

you know for you know 10 years you were

thinking 80 degree weather yesterday

yeah talk to people about how they can

get a hold of you how can they find you

you know how can they get involved and

build a relationship with you yeah so

the first place is gaybowling.com I'm

doing a lot I do a lot of multi-family

stuff a lot of it is free free education

YouTube like dig into it especially if

you're just starting out there's a ton

out there it's literally just you

putting in the effort and commitment to

actually retain it uh gaybowling.com a

ton of free content there and then at

multi-family on Instagram is where I'm

most active at

um those are the two places yeah at

multi-family it's quite the hashtag you

got there that's quite the uh I mean

that's quite this Market yeah you have

yeah there's good marketing by you so at

multifamily gaybowling.com reach out to

them this kid's a rock star yeah I can't

wait to watch your journey and be a part

of it so thank you so much for coming

out man it was amazing so if you enjoyed

this and got any value out of it if you

enjoyed hearing about how gay bowling

dropped out was an apprentice for free

went on to make six figures now is doing

his own deals if you enjoyed how he

reverse engineered his goals send it to

people you care about like subscribe

share it with the world I want this kid

to blow up share it foreign

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