RG 070 – Side hustle kings part 2 how to find crackin deals whilst working 9 to 5 with Ryan Cox
About Ryan
- Ryan is a sales Director for his day-job.
- He manages 200 sales reps on a daily basis.
- Ryan is also a real estate investor specializing in multifamily.
Nuts and Bolts
Ryan Cox is a sales director based in Texas where he turns over $250 million annually. He manages a team of 200 sales reps for technology companies and he really enjoys his work. He’s also a real estate investor who specializes is re-positioning of multifamily properties. He was always interested in real estate and first became involved straight out of college when he started leasing industrial properties. So ever when he started his sales jobs he never lost his interest in real estate.
Managing time
When Ryan got his first opportunity in real estate he was also planning a move across the country with his wife and newborn baby, this also coincided with a promotion at work and an increased work load. Ryan recommends that the most important factor when managing your time with a side-hustle is mindset and proper determination. You need to be in the mindset for taking daily action and always saying yes. By taking this mindset Ryan raised just under $500,000 for a syndication deal from 200 accredited investors. He spent 6 months prior to this moment educating himself with books, podcasts and meet-ups to learn what makes a good deal. He then profiled the investors before he approached them and secured their investment. He also has a long term mindset when approaching the investors, for example if they said no to this deal he doesn’t despair because he can keep them on his books and approach them for other deals to come.
Side hustle and advice
If you’re still trying to find your side hustle Ryan recommends thinking about what are your strengths. Also think about what you like to do and where you like to spend your time. For example Ryan realized he loved talking to people and learning about them, he also knew he didn’t like admin work like setting up websites and invoices. So when he got into real estate he hired a personal assistant who works for 10-15hours a week and manages the side of the business that he doesn’t enjoy so he can spend more time finding investors. Ryan recommends that when you’re going into a side-hustle you need to put all your energy into it, for example educate yourself, go to meetings and network; the more you do the more opportunities will open up for you. Also try committing to one thing each week, for example try to make three deals a week, or x number of phone calls etc.
Future and mentors
In the future Ryan would like to continue working with syndication groups and learning from them. He’s also going to branch out into some smaller value-add deals on his own. He has no dates yet to leave his day job but is really enjoying the juggle between the day job and side-hustle. Ryan says he wouldn’t have been able to get to this point without his mentor who has kept him accountable and helped him learn the ropes. A mentor isn’t someone who’s going to do it for you, but Ryan has been able to set goals for each meeting and by having someone ask about your goals it forces you to reach them.
Top investing tips
- Most important habit – 20 minutes of meditation each morning.
- Most influential person – A family friend who got into real estate first and inspired Ryan.
- Most important tool – LinkedIn for connecting with people.
- Most important mistake – When first approaching investors he went in with figures too quickly without getting to know each investor as a person.
Contact – foundersgrovecapital.com