Turning A Layoff from Spite into Success
Turning A Layoff from Spite into Success
How can a business owner use real estate to build wealth?
I stumbled into real estate out of frustration. After being laid off, I was angry and started wondering, "How do the rich get rich?" So, I began researching online and discovered real estate. While I'm really good at it, real estate isn't my passion—I'm simply obsessed with it. My ultimate goal is to buy into a sports team, and I'm using real estate as a vehicle to grow my net worth to eventually become a minority owner of a team.
Unlike many people who are passionate about real estate, I view it as a tool. It pays the bills and keeps the lights on. What sets me apart is my focus on systems, discipline, and methodologies. I track everything with detailed metrics, and I've become obsessed with achieving my desired outcome. That's the approach I'm applying now.
How can business owners connect with successful people to accelerate growth?
My plan, over the next 15 years, is to increase my net worth so I can buy into a major league team as a minority owner. I don’t want to be the main owner—that’s too hands-on for me. I just want to be able to sit courtside, whether it’s for hockey, baseball, or another sport, and enjoy the games while collecting a check. I love sports.
To achieve this, I worked backward and studied how others reached this level of success. Take Josh Harris, the new owner of the Washington Commanders. He started in equity hedge funds 20 or 30 years ago, and I’m always reaching out to him on LinkedIn. I send him direct messages regularly because one day, he’ll respond. I use LinkedIn to connect with people like him all the time. There’s no shame in it. I’m very clear about what I want, what I need, and what I can offer.
That’s how you grow—by learning from successful people. Success leaves a blueprint, and all I need to do is follow it while adding my personal touch. There’s no need to reinvent the wheel.
What should business owners focus on for long-term success in real estate?
Two things to remember: don't focus on the number of properties (doors), but instead focus on your net returns. Early on, I was caught up in counting doors, but it’s the net that truly matters. Also, singles and doubles will get you to the Hall of Fame just as quickly as home runs. It might not be as glamorous, but with a solid plan, steady progress can bring great success.
When I look back at my own portfolio, I realize I did a great job over the past 14 or 15 years by steadily acquiring small properties. Some of these properties are paid off through cash-out refinancing, while others still have loans. The key is that I followed a methodical plan. Don’t let fear of missing out (FOMO) make you feel like you're not succeeding just because you're not doing huge 100-unit deals.
What people don’t often mention in syndications is that most operators are paid through asset management fees, typically 1-2%, and they don’t get paid again until the property is sold unless they’ve put their own money in as a limited partner (LP). So, syndicators rely on doing frequent deals to keep income flowing.
What I’d tell you is, you're doing well. Don’t get caught up in FOMO. Singles and doubles will get you to the Hall of Fame just as quickly as home runs.
Why is it essential to identify the core reason behind pursuing a particular career or investment?
I’m wired to really break things down and get to the core of what I want in life. I use a system called the "Five Whys," which comes from Lean Six Sigma, originally developed by Toyota. You keep asking "why" until you get to the root cause or answer. For me, it became clear that it wasn’t just about owning real estate or repeatedly doing syndications. While there’s nothing wrong with syndications, they can be emotionally draining. I bear the weight because it involves managing other people’s money, and I’m tough on property managers to ensure distributions are made. The easiest part is signing the loan. The real challenge is executing the business plan according to your pro forma.
What time management strategies help business owners stay focused?
Being obsessed and focusing on one thing really resonates with me. I don’t believe in multitasking. You can only truly focus on one thing at a time. If you’re doing something else, you’re not fully focused, and that’s a disservice to what you're working on. I set clear rules for myself. For example, when I’m with my son during family time, like at dinner, I don’t bring my phone. I’m fully present. I also have a time block for activities like checking emails, so when I’m focused on something, that’s my only task.
I’m very strict with my schedule. I wake up at 4:30 AM every day and know exactly what I’m doing at 5:30, 7:30, and so on. At 8 AM, I make breakfast for my son—that’s a time block I’ve set aside. By 9:15, I’m on to the next task. This works for me, and I always tell people to figure out what works for them. Trying to juggle multiple things at once doesn’t work for me, so I avoid distractions like Slack calls when I need to focus.
There’s no badge of honor for sleepless nights just because you’re busy. It’s often a sign of poor time management. You need to plan your day, week, and month around must-have tasks and stretch goals. That’s how you run your life like a business, and I’m very disciplined about mastering my schedule.
*This interview has been edited and condensed for clarity.*
