RG 225 – What are the Short & Long-Term Effects of COVID-19 on U.S. Real Estate w/ Gary Boomershine
Gary is the owner of realestateinvestor.com and has over 1000 clients in a $10million a year business. He made his first dollar at 9 years old as a grocery bagger. His advice is to always have good mentors in your life because good mentors made him who he is. At college he met the senior vice president for Macys who look him on and got him a job in sales at Macys. He got an economics major at UC Davis and then asked his mentor for advice on what to do next. He said; the future is in tech, around computers so get a degree in this and go to work for one of the big 6 consultancy firms. He took this advice and went home and changed his major to computer science and was recruited by Arthur Anderson.
He was then recruited to silicon valley start ups on the sales side and was so busy he had no life for a family. In 2004 he read Rich Dad Poor Dad and decided to invest in real estate and by May he had 3 deals in the pipeline. He quit his jobs and never looked back. In his first real estate deal he made every mistake in the book but he learnt a lot and made $181,000 Net on the deal which launched him into the real estate world.
When he was trying to get in front of sellers he took his technology background and his old silicone valley programmer friends and built an algorithm. This helped him get in front of sellers using direct mail which drove deals and then he built a phone team to schedule appointments. The engine took off and other people wanted to use it and then this took off and became realestateinvestor.com which currently had 600 active clients mostly from the single family world. He sends out about 1.5 million piece of direct mail each month and he’s in 10 mastermind with other big businesses.
Top tips
- Most important habit – 5.10.3 rule – wake up at 5 and push business day till 10 and put in 3 hours 4 days a week to be the ceos his business
- Most influential person – willy hooks, retired from silicone valley – yoda
- Most important tool – zoom, slack
- contact – reibeacon.com and realestateinvestor.com