In this episode of Grab the Map, Johnoson Crutchfield is thrilled to have a conversation and explore Henry Washington's journey into real estate investing. Henry will share his inspiring story about the challenges he faced at the beginning, important moments that shaped his path, and how real estate has made a positive impact on his life and community.
[2:18] Henry's real estate journey began after he had a panic attack and wanted to find additional ways to make money. Despite facing initial challenges like having bad credit and limited savings, he immersed himself in learning by attending meetups and networking events. By confidently presenting himself as an investor, he secured his first real estate deal and learned how to navigate the process. Within 90 days, he went from feeling uncertain to finding success in the real estate market.
[8:10] Henry reflects on how his background in analyzing business data at Walmart helped him develop professionalism, numerical analysis skills, and presentation skills that are important in real estate investing.
[10:36] Prioritize facts and data over emotions when making decisions, similar to the approach taken when analyzing business data to make more informed and rational decisions in real estate investing.
[13:02] Real estate has allowed Henry to positively impact his community and fulfill his purpose. It has helped him overcome financial struggles and build generational wealth. Henry sees real estate as a way to leave a lasting legacy and help others improve their lives.
[17:19] Henry explains his simple decision-making process for real estate deals, which involves consistent marketing efforts and strict criteria for rental properties and flips.
[18:38] Thoroughly analyze each deal and ensure that it aligns with your financial goals to make more informed decisions and increase your chances of success in real estate investing.
[20:51] Henry takes a flexible approach to determining profit margins in real estate deals. He adjusts his expectations based on market conditions, risk factors, and the specific details of each deal. While he uses the 70% rule as an initial guide, he calculates profits dynamically for each deal.
[22:19] Having a supportive spouse is crucial in real estate investing. Henry truly understands the importance of a strong partnership and how it provides much-needed stability and motivation throughout the ups and downs of entrepreneurship. He and his wife embarked on the exciting real estate journey together, eagerly learning and making sacrifices as a team, which not only strengthened their bond but also significantly improved their financial prospects.
[30:16] Henry's long-term goals in real estate are to acquire 10 to 15 rental properties and complete 10 to 15 flips annually. Instead of aiming to build a large operation, he prefers to maintain a hands-on approach and directly help sellers. His focus is on steadily building wealth for his family while enjoying the process and staying true to his personal aspirations.
Mentioned in this podcast:
Connect with Henry Washington for coaching sessions at https://henrywashington.clickfunnels.com/order-485129501621009952063
If you are interested investing in real estate and make connections, shoot an email [email protected]. Read on some of our blogpost http://grabthemapllc.com/.