Proximity is power. But how do you get in front of successful people when you're struggling yourself?
Sterling Griffin was homeless when he made the decision to surround himself with the people he wanted to become. Then he found creative ways to add value so they'd want to be friends.
And in just two years, Sterling went from living in his Honda Accord to making $1.68M.
On this episode of Financial Freedom with Real Estate Investing, Sterling joins cohost Garrett Lynch to share his journey to becoming a millionaire, explaining how he borrowed money and sold his car to invest in a mentor and why he's committed to inspiring others to see more for themselves too.
Sterling describes his transition from fitness trainer to business coach to real estate investor, discussing his decision to focus on triple net lease investing and the tax advantages of accelerated depreciation.
Listen in for Sterling's insight on finding the right people to learn from and learn creative ways to add value to high-profile people who will help you grow to the next level of success!
Sterling's journey from homeless to millionaire in 18 months
- Realized career as pastor not for him and quit school
- Made $285K in first year as fitness coach with mentor’s help
- Added online business coaching for personal trainers
- Made $1.68M by end of Year 2 as entrepreneur
What Sterling did to attract a mentor while living in his car
- Learned ‘proximity is power' at Tony Robbins event
- Connected with successful coaches in area
- Borrowed money from dad and sold car to pay for mentor
- Went from < $1K/month to $100K/month in 7 months
What kept Sterling motivated to be successful
- Didn't want to go back to streets
- Inspire others to see more for themselves
What inspired Sterling's transition to real estate investing
- Sold business at end of 2020, wanted to avoid tax liability
- Learned about tax advantages of real estate
- Joined Mastermind to explore different asset classes
Why Sterling chose triple net lease investing
- Landlord-friendly commercial lease agreement
- Tenant pays for maintenance, property taxes and insurance
How Sterling’s investors benefit from accelerated depreciation
- Earn income on property for at least 10 years
- Put in less money than save on taxes in first year
How Sterling finds the right people to learn from
- Ask who gets best results
- Add value so they want to be friends
Creative ways to add value to high-profile people
- Find resources and make connections
- New hire for business, agency to work with or guest for show
Connect with Sterling Griffin
Connect with Michael Blank
Email [email protected]