Freddie Mac, Smith Mountain Lake, North Dakota discussed on Entrepreneur Stories for Inspiration: Millionaire Interviews


I still do that on the side as away. I serve but actually got into copywriting for a number years. And then when that was two thousand eight to ten Excuse me eleven. And then in late two thousand ten we invested in oil and gas and then in two thousand eleven we built the apartments and we were thrust sorta mindlessly into commercial real estate in two thousand eleven. And that's why i've been in for the last decade. So how much money did you make up till the twenty eleven point because you said your two million in debt and it didn't seem like had much money and then you said you got outta debt. So how much money extra did you have as well none. We were two and a half million dollars in debt in two thousand late. Two thousand seven early two thousand eight. We were debt free and we paid off our house by spring of two thousand nine and we really had no money at all at that point except our home equity and then you took that money in the home equity took a home equity line out and put it in you said petroleum. Well what. I didn't mention on the side here i yes. I invested some in patrol in in an oil well in north dakota and that was speculating. We put a total of about a million dollars down a hole in the ground and exactly zero came out and so that was another example of speculating. When i said i was in investing and so that was one of the main many painful stories that i had when i launch how to lose money right but how did we make money before he lost it. Well i didn't mention this because it wasn't a critical part of the story but in two thousand four. I tried to be a builder. Which i did mention that i i was laughable as a builder but in august actually of two thousand four. I got a phone call and this guy said. Hey i'm dave stevens. I run freddie mac. No seriously. I'm the senior vice president of freddie mac. Don't hang up. I said okay. Why would i hang up. He said because. I've called seven other realtors at smith mountain lake and nobody would return my call. I'm trying to buy a condo at smith mountain lake. I want a big condo for my growing family. I can't get a realtor even returned my call and i said well okay but i'm a builder he said. Yeah the front page of your website. Says you're also a realtor and i like your website. I thought i'd give you a call to see if you'd help me. And i said well. We'll sure sure i'll help you remember. I was a serial entrepreneur. I'd say yes to everything at the time. And so i agreed to help this guy and in about i don't know fifteen hours work tops. I made a nice sixteen thousand dollar commission..

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