RG 196 – Learning to Back Yourself: From Rock Bottom to Real Estate Rockstar w/ Will Harvey
Will is the Vide president of CEO Capital Partners and he controls over a million dollars in real estate in Northern Virginia. Prior to this Will worked in residential finance and brokerage. Will is passionate about showing others that there are better ways to grow wealth through real estate with his new podcast The Wealth Junkies. Will made his first dollar as a child selling golf balls back to the players at the side of the green.
Will had a good childhood but hit a downward spiral in high school and started drinking to the point of blacking out and smoking drugs. He took these habits to college and got charged with possession in the first term. From here things got worse until he met a family friend who was 18 years sober and helped him realise he had a problem. At this point he dropped out of school to get sober.
After 1.5 years of being sober Will went back to school on a football scholarship but got injured and never finished college. He came home and his parents were very supporting and said he didn’t need to go back. There was a family friend who worked in the mortgage business and said he could join the company. He learned the business for a year and taught himself all about debt and then he jumped into sales which he loved. They business blew up over the following months which allowed him to save more money to put into real estate in North Virginia. The first house he bought was a town house and his father co-signed for 50% ownership. He got 2 room mates and their rent covered most of the mortgage which gave him the lightbulb moment for passive income. He did a rinse and repeat on this with another property. By the time he got the third house he realised that this business wasn’t scalable and he’d run out of money and grown problems. At this point he learned about the multifamily economies of scale.
He joined forces with some other investors to become CEO Capital Partners. The idea behind the name is looking to add value for execs and businesses owners. They partnered with a slightly older investment group who had been around for longer so found it easier to find deals. The CEO group have the equity so together they can find and finance multifamily deals.
- Most important habit – time blocking the next day
- Most influential person – dad
- Most important tool – phone
- Failure – taking advice from unqualified people