The NexGen Patriots exists to inspire, inform, and empower every generation of Americans by connecting faith, values, and community with the issues that shape everyday life. Through meaningful conversations and real stories, the podcast provides a platform where local voices meet national discussions—bridging the gap between small-town perspectives and broader cultural and civic topics. We highlight the strength and resilience of communities while promoting informed citizenship rooted in integrity, responsibility, and hope for the future.
Real estate success often starts with learning from experience. From mistakes on a first property to finding creative ways to get started with limited resources, this conversation breaks down the lessons, sacrifices, and long-term mindset that can turn small beginnings into lasting wealth.
What's one lesson in real estate that has taught you that business alone couldn't?
SPEAKER_01
Well, uh you you want your properties to cash flow. That's uh uh you know, when you're uh I I've got this model called 1100. And it it uh it it doesn't hold true in every circumstance, but if if I buy a property, I look at it and I want the the potential rent to be one one hundredth of its value. Now, they don't teach you that at Concord. I made that up entirely on my own, and it's just something I learned by uh by doing it the hard way. Uh but i i if you can buy a property that'll cash flow and and a property typically if if you can rent it for one one-hundredth of its value, it it means it's paid for in eight and a half or nine years. Brock, the the first I was so determined that I want to get a real estate business. The first property I ever bought was a single-wide mobile home in the Beacon Trailer Court in Bluefield, West Virginia. Now, number one, I don't recommend mobile homes. They're a declining asset for the most part. But I didn't know. Now I didn't have anyone to tell me. I mean, I had I literally had to figure it out on my own. So I bought this Buffalo Hall, payment on it was $200. I had it rented for $210, and in my mind, I was Donald Trump. Yeah. I am on my way to billionaire status here just any any day. Yeah, I I didn't I had no concept of interest, which at that point during the Carter administration were 18-19%. I had no concept of insurance, I had no concept of maintenance, I had no concept of anything other than I was making 10 bucks a month.
SPEAKER_00
Yeah.
SPEAKER_01
And uh I learned pretty quickly that uh that's not exactly the best path to wealth. So uh, you know, frankly, we got rid of that and we moved on to single family homes and uh so that's uh yeah, that's it.
SPEAKER_00
Yeah. So if a young person is listening right now with big dreams but limited resources, what would you tell them?
SPEAKER_01
You can do it. I guarantee you could do it. Uh uh you you could start there. There's there's people that will well uh number one, you you have to seriously, seriously, seriously want to do it. You know, if if if you're driving a brand new vehicle or you're driving a vehicle that's three times your annual income, you're not gonna do it. Okay, you're gonna live for that vehicle or live for that credit card or live for that credit rating. If if that's the path you're taking, that's fine. You know, I uh uh frankly, vehicles uh have never done anything for me, ever. Uh every time I look at one, I keep thinking, I can buy another house for that, you know. So uh, but if if if you're that person that lives for their vehicle, fine. God bless you, you know, have a good life, but you're not gonna be wealthy. They uh if if you want to get in the real estate business, then find uh find a way to do it. I mean, I uh uh uh I remember a couple of them, but uh I felt it'd somebody in December willing to own or finance them. That uh, you know, the fact that I didn't have any money to put down, or you know, I'd I'd give you a car or uh something I had of value. I'd give you anything. I I I want that house in my name by the end of the year. And if I had to sign my car over to you, that's what I'm gonna do. And uh buy someone to all their finances. Another great way, find a duplex. You know, yeah, if if you want to if you can find a duplex, you live on one side and rent the other, someone's gonna pay enough to pay the entire payment. You know, so you're gonna live uh free and someone else is gonna pay for your property.
SPEAKER_00
Yeah.
SPEAKER_01
So there's multiple ways, but uh you know, I don't uh I don't care what your life uh situation is, if you can uh uh if you're if you have your health and you have the uh the absolute uh heart to do it, and sometimes you gotta do without, you know, that uh you gotta do without. It's a long-term play. You you're not gonna get immediately rich, you're not. But you know, over the over the course of of your life, uh, if if if you're seriously in real estate, you'll probably at some point you're very likely gonna be successful.
