Losing is never fun, but it’s often valuable.
In fact, Garrett Lynch contends that down moments force us to pick ourselves up and close the gap between who we are and who we want to be.
In addition to being my podcast cohost, Garrett Lynch serves as Director of Acquisitions and Managing Member of our investing firm, Nighthawk Equity.
And his story is full of setbacks. Setbacks that pushed him to grow and take the next step in becoming a successful real estate investor.
On this episode of Financial Freedom with Real Estate Investing, Garrett goes solo to share his journey from troubled teen to millionaire multifamily entrepreneur.
Garrett explains how he developed his #1 skill set selling Cutco knives and describes how his experience as a VIP concierge at a nightclub led him to real estate.
Listen in to understand what Garrett learned from scaling a portfolio of class D properties and get his advice on finding happiness in the business of real estate investing.
Garrett’s troubled teenage years
- Partied all the time, drove parents crazy
- Stole police car and crashed into tree
How Garrett developed sales skills
- Owed $10K for damaged police car
- Sold Cutco knives to earn money
Why Garret calls sales his #1 skill set
- Leverage to put on events in college
- Negotiate domain price for Michael
Garrett’s experience as a nightclub VIP concierge
- Built relationships with wealthy people
- Not the lifestyle he wanted long term
How Garret got into real estate
- Started working with wealthy friend
- Wholesaling properties in Chicago
Garrett’s transition to entrepreneurship
- Lost everything in Ponzi scheme
- Started buying portfolios on South Side
Garrett’s experience operating D class properties
- Must self-manage due to problems
- Dangerous to be onsite after dark
What Garrett learned from scaling to 3,400 units
- Go deep in one or two markets
- Look for tailwinds (job/economic growth)
How Garrett partnered with Michael & Drew
- Felt lost after breakup with old partners
- Brought them deal through Deal Desk
- Proved himself despite losing deal
- 10 deals as partnership so far
Why our down moments are most valuable
- Losing forces you to pick back up
- Get closer to who you want to be
Garrett’s advice to aspiring multifamily investors
- Start taking action
- Put in time, persistence and grit
Connect with Garrett Lynch
Connect with Michael Blank
Email [email protected]