alright guys welcome back to the channel
I'm here with the one and only grande
Steph and once again we've done a video
already talking with Gramps if you guys
missed that that's down in the
description below but in this video I
really just want to hear about your
story and how you got started with real
estate why you decided to do that and
how you were able to become a
millionaire at a very young age
investing in real estate and I know I
don't know a lot of people that have
done this in your 20 in their 20s yeah
so I think it is really interesting just
to hear about how it is that somebody
has done this yeah of course I really
randomly fell into real estate because I
had really bad grades in high school I
hated school I didn't really think much
of it I thought it was like some special
wanted to because I was cool didn't
happen I really had no backup plan so
real estate for me was basically a last
resort to do something for a year and my
initial thought with real estate was
that I'm gonna get my license I'm gonna
do it for one year just to do something
sure I think then I'm gonna reapply to
colleges did you ever go to school or no
college oh I didn't know that okay
mariette remember went to college I
actually originally wanted to be an
investment banker in high school Oh cuz
I want to be a drummer and then it went
from drummer to be like cuz I'm gonna be
homeless if I'm if I'm a drummer so you
went to the other extreme banker and
just made fun it'd make a ton of money
and that would be it but I hated the
whole corporate lifestyle I did not like
the office life and I'm like looking
back I would have been miserable as an
investment banker so I ended up getting
my real estate license
and I would go and see open houses every
single Sunday to go and talk to other
agents and ask them their thoughts of
the business how they got involved in
that what they would recommend for me
being 18 and all of them were super
discouraging and everyone said I should
have gone to college it was a bad time
to start this is present yeah this is
2008 okay and this is just when the
market had peaked and was starting to go
down so a lot of these realtors were
saying like I had to pick up second jobs
right now to support myself I'm getting
out of the business it was really good
now it's just it's gonna be terrible
right now everything is crashing and I
didn't listen to that because when
you're 18 you kind of have selective
hearing and it's right and you know like
asking the people that are older than
you or
people tell you that you're wrong like I
was so convinced that like this was the
best business to be in that anyone who
said something that didn't line up with
that I'd be like no they're just bitter
no they don't know what they're talking
about what they're trying to keep it for
themselves or something like that yeah I
just felt like this very scarcity
mindset of just like I gotta keep
everyone to myself and I just I hated it
so I continued going to open houses some
agents would you know be somewhat nice
and cordial but eventually I met an
agent who is just super encouraging who
didn't have a college degree either he
was a top agent in Beverly Hills and we
ended up talking it was a slope in house
we probably talked for like an hour an
hour and a half something like that just
talking about real estate I wanted to
get into it he used to work at a
restaurant and went from working at a
restaurant to then getting his real
estate license making a ton of money in
real estate buying a house in Beverly
Hills I mean it was really cool story
and after talking for like an hour and a
half he offered me a position working
with him that we would split things
50/50 but I would do all the busy work
and basically whenever I brought in we
would split it she returned he would
kind of teach me the ropes and I would
just give him half of anything else I
brought in okay and so that really got
my foot in the door because he would
give me his open houses to sit and every
single Sunday I would go and sit open
houses but at the same time I can go
with him to showings I could see what
he's doing I would just hang out in his
office listening to his phone calls
seeing how he answered emails I would do
any errands he wanted me to do I would
set of houses for her I would pick up
papers from client I mean I did anything
I could all for free right just to be
able to learn anything that I possibly
could and from doing this I was able to
meet some really cool connections in my
office of Coldwell Banker that we're
doing leases and I figured this would be
a cool opportunity for me to put leases
up on Craigslist to try to help them out
and at the time I was into photography
so I would basically take my camera and
go to other agents and say listen I'll
take better pictures than you have for
your leases if in exchange for that you
let me post the lease on Craigslist and
they did that and they started getting
some lease clients coming in and
obviously it's fun everything 5050 at
the time with the guy that you know kind
of brought me in what I ended up doing
some leases which basically meant I get
paid anywhere between five hundred bucks
and two thousand dollars but okay when
you're 18 years old earning 500 bucks
that's so significant
like I always ton of money so now were
you still living at home at this point
in time so that's the way you were able
to work for free okay yeah oh yeah 100%
I was living with my dad at the time and
I gotta say I mean for a lot of people
who have hate on living with your
parents or it like honestly I had that
option and it was it was a place for me
to come home to that I didn't have to
worry about like coming out of pocket
rent every month that I knew that I had
a place to come back to sleep at and I
knew I wasn't gonna be on the streets
if any event I didn't make him money so
at this point earning 500 bucks that was
500 in my pocket now I paid everything
else like my phone car insurance sure
car bills anything else that came up but
I didn't have the worry of rent over my
head at the time so everything I would
just save save save save save nine
months into it I sold my first place it
was from sitting a random open house one
Sunday after nine months into it nine
months earlier first nine months holding
open houses every single Sunday oh my
god without missing a single Sunday and
I also held them on Saturdays not every
Saturday but most Saturdays so that's
close to what 30 40 weekends something
like this yeah Wow and then I sold one
house after 40 open houses something
like that and that was a 3.6 million
dollar home in Beverly Hills there's a
Harlan didn't drive I'm not gonna give
the address right son Linda Drive
Beverly Hills three point six million
and the Commission on that was something
like I think my portion was somewhere on
like 50 or 60 grand for my and yeah and
it was just almost turning 19 at the
time and to earn that amount of money
was like whoa like like it was at that
point where I decided like I have never
gone to college yeah yes what does that
feel like I mean I know so obviously you
went nine months earning next to nothing
but then to get a check for like that
amount of money like what was the
feeling like with it almost seemed like
you couldn't believe it was real or what
like that just seems I can't imagine
I've never gotten like a check that
large yeah I know so it was a bit of
both I wish I could remember a little
bit more I mean the thing is the office
that I was at in Beverly Hills there
were agents doing checks like that like
every other week okay and so I was
almost comparing myself to you know all
name-drop here but like we had in our
office Joyce ray and Jade Mills and they
were just crushing it the business like
that to them would be like oh yeah
that's
- what came in this week and to me I'm
like oh my god you can buy like a used
Bentley every single week what is this
so when that came in for me it was
really just more encouraging it like if
I can do this I can earn you know
$100,000 Commission but honestly when
you're 8 you know I was almost 19 I
spent most of that Commission on the
lowness I had to dream cars since I was
like 16 years old and I decided let me
get the car I've always wanted so I'm a
chrome Orange Lotus Elise and then the
rest of you went to taxes and you know
everything else but it was that doing
that first sale that gave me the
confidence to know that I can actually
sell a house being young being like 18
19 you need selling a multi-million
dollar house shortly after that I sold
another house for 1.2 million dollars in
Clark Drive in Beverly Hills and and
that sale was only because I had the
confidence to know that I can do it yeah
once you know was it possible I'm sure
you had a different life even just your
mannerisms inside the showings and
suffer probably different right yeah and
now that 1.2 was actually a lease client
from Craigslist but after I sold the
first place I just had the confidence to
be like wait a second they want to buy
something now let me transition them
over to buy a house instead of rent -
sure and it was just because of I had
the confidence that I still own that one
but then from there really just started
scaling up I noticed I started getting
more sales each and every year the lease
clients began turning into buy clients
those by clients ended up selling their
home and then buying something else and
I saved at all and then in 2011 I
noticed the real estate market was
pretty cheap and I had at the time it
was almost two hundred thousand saved up
I was like three and a half years almost
four years when you were still living at
home at that point still living it
living at home with like two hundred
thousand saved that that is that's
pretty cool man yeah a lot of people
would be like I got a couple thousand
dollars I'm gonna you know I don't want
to be with my parents I'm getting out of
here so that's no highways I was I would
not spend any money I would refuse to
spend money my idea like even a shirt
I'm wearing right now yeah it was a four
dollar and 99 cent shirt from H&M that I
got over a year ago like I don't spend
money regardless of you know you see the
car in the background and somebody been
like decide little things like that they
keep their value I never spend money and
I implemented that in the beginning sure
and it was because I never spent the
money that I had them
to go and invest and I threw all that
200,000 in real estate about two houses
and a triplex all at once yeah why
staggered okay you staggered them okay
so the first house that you bought what
was your down payment on that house so I
bought it I bought all all of these
places cash Oh cash so you own the whole
you own them outright yeah reason why is
because I didn't have a credit card and
I wanted to get loans and no bank would
want to touch someone with I had two
years of tax returns and I deducted
everything by the way so I wasn't
showing like a ton of income but I mean
it was okay and you didn't have a no
credit history
I had no credit history well so that
seems like a good lesson there of
somebody who wants to get involved in
real estate to establish credit a
hundred percent I thought it was cool by
not having a credit cards because I
thought like only broke people have
credit cards right is not the case I
thought I was really do like I thought
it was cool for that which is terrible
mistake
right and I try to get a cosigner but
like my dad didn't have good credit
either
sure my mom had bad credit like they
would have made it worse if anything is
they have like terrible credit yeah so I
was forced to buy these places cash the
first place that I bought is fifty nine
thousand five hundred dollars sold in
2005 for like two hundred and fifty
something thousand so I was buying in a
fraction of what it used to sell for
fixed it up and I rented it for I think
about $1,200 a month I bought another
place it was seventy two thousand
dollars and that you bought cash to cash
okay that was I think it rented eleven
hundred and fifty and the triplex which
ended up meeting some work but yeah
those three and that all of a sudden it
was like getting rent every month was
addicting knowing that like every single
month no matter what you'd have like you
know 25 I think 25 2600 whatever it was
at the time coming in that I didn't have
to work for it
right and that to me was just like oh my
I couldn't believe it
yeah the first time that you start to
make money when I mean I'm not talking
to like completely passive income but
I'm talking about like where you're not
like necessarily putting an effort it's
really really like surreal even if
that's not a lot of money you're like
wow I didn't like actively go out there
and work and maybe you have a month
where you don't hear from your tenants
but that rent check still comes in like
right a month it's passive yeah so it's
really exciting to have like that to be
like wow you know making money without
working it's definitely powerful yeah
and I thought to like I can go out for
all-you-can-eat sushi every single day
and have money left over for gas money
phone bill like all my other bills but
I'm sure gonna do that anyway no I know
well knowing that if I totally wanted to
but from there I I mean I really after I
bought this properties I really focused
on being the real estate agent I kind of
figured like okay I'm done with that
work as a real estate agent and I grew
my business there I mean it put like
every single day and worked there
meeting clients showing houses getting
listings and that's what really ended up
spiralling is that all of these original
lease clients that it did in the
beginning
ended up referring me more business
using me again selling their home
through me I had one lady met her on
Craigslist she ended up renting a house
her ex-husband ended up renting a house
through me she ended up buying a house
her ex-husband ended up buying a house
while in it she ended up selling that
house and then the person who bought
that house referred me to another
listing I ended up getting so that was
like wow six deals from one person's Wow
so it's it's like relationships with
people is what matters
yeah okay but that's probably why it's
so intimidating to get started with
being a real estate agent cuz you maybe
as a young person you'll have these
connections yeah you know I'm probably
everybody you know as a young person
they're not in a situation to buy a
house yet so I got to start like making
connections with people that are 5 10 15
20 years older than you everyone is
older than me I mean there's no one in
my age bracket at that point but I think
people liked the fact that I was young
just because I was really did like
really hustle and do anything I would do
anything if they want me to do some like
run across the city for free I would do
it I tried nothing better going on so I
did everything and they really respected
that and they wanted to just to give a
kid a chance
yeah I think is it a big one that
sometimes you see someone is like 14
years old or 15 it's just like really
really motivating grind like you want to
actually just help them out sure like
damn this is pretty good let me help
this person out and that really works in
your face so you may as well milk that
way you can yeah definitely yeah and you
still look pretty young so yeah that's
your advantage I don't yeah yeah no
beyond that the the real estate business
ended up picking up I ended up basically
cutting out everything
my referrals and repeat business saving
up all that money throwing it back into
real estate starting to do the house
hacking bid where I bought a house fixed
it up there for a year
rented it out bought a do plan if you
guys missed that we have the whole house
hacking video link down below too so if
you guys didn't week amidst that video
yeah that's there for you yeah but and
then going with the duplex doing the
same thing and now I'm in the process of
buying another duplex it should
hopefully be closing in another three
weeks sure so I'm hoping when I'm done
with this you know I should have the
portfolio of at that point I think it's
three houses two duplexes and a triplex
well with very little debt on these I
think my debt to asset ratio on this is
somewhere like around fifty percent so I
already own half of the real estate by
the time I've done remodeling it with
the new appraised values and everything
like that so it's not like I'm going in
like yeah I'm super leveraged in present
leverage I mean it's really 50/50 which
I feel is pretty safe yeah definitely so
then when did you officially hit
millionaire status as a real estate
investor on it was just before turning
26 it was 25 in something okay so you
counted this 26 just rounded up I
rounded up by the time I was 26 I was
really like 25 and some change I could
have said by 25 but yeah it does I
figured by 26 same thing but yeah that
was the point
I remember cuz I tracked all my expenses
and everything on meant that I was like
I remember being really close and just
waiting for like one more month to pass
by and then like you know I was gonna
have a paycheck clear and then like it
was it so I celebrated that I went out
for sushi and I bought one roll and
water no joke oh my god that was my baby
you you celebrated millionaire status by
buying one sushi roll and getting a
glass yeah it was a cheap it was happy
hour sushi - so $8 at 99 but that's why
that's why you became a millionaire
because of these habits so that's that
is just too cool right now
but also I've noticed that to go from
like one to two likes to go it was to go
from zero to a million was about seven
years worth of work and saving and
investing also during a bull market sure
to go for one to two took I think only a
year and some change after that to go
from 1 to 2 which well crazy but it just
shows this is no
it's so effective like and I'm sure
going from two to three would take even
short I mean short three to four so once
you have that all working for you as
long as you could still keep your
expenses to a minimum the investment in
the investments just keep compounding it
that's the number one thing that we have
to point out here too like you still
have the same lotus-like yeah you it's
not like you said oh cool like I'm
making all this money I'm gonna go buy
this nicer car and this nicer place like
if you scale your like lifestyle with
your income then you're never really
getting ahead you don't have to have
your income going up and then like your
lifestyle expenses staying the same in
order to yeah had pretty much the same
expenses as I did when I was like 20
right like no joke my personal expenses
and I've covered this in one of my
videos is my personal expense are really
about fifteen hundred dollars a month
that's that's like everything else is
discretionary if I decide to go out like
for in and out today oh is that's just
you know disk rest like I can cut that
out any time yet but like yeah this
shirt is a five dollar shirt these jeans
I'm not sure if you can see these jeans
these were on sale at H&M for 20 bucks
these socks were given to me for free
I'm not sure if you could see how many
through the socked foot but there are
Kyle socks they were given for free you
know things like this like I don't need
to spend a lot of money you don't need
to spend a lot of money to look good you
don't need to waste a lot of money on
things that aren't gonna bring you value
and for me it's just like I get more
value by investing and I have more fun
yep by investing I feel better by
investing than I do ever by spending
yeah it's just so important and I think
a lot of people is just I'm really glad
to have this as an example of actually
having done it because there's so many
misconceptions out there about real
estate like you have to have you have so
much money to get started it's
impossible to own real estate as a
millennial or like as a young person
like here's somebody who became a
millionaire in their 20s with real
estate it's just a really really
inspiring don't buy avocado test yeah
you're frappuccinos a lot I know so
yeah that's awesome alright Graham well
thanks so much for coming on the channel
I really appreciate it
I'm sure you guys are subscribed to him
but if you're not this channel is down
in the description below and then if you
guys make sure you know like this video
drop a comment if you have any feedback
for Graham I'm sure he'll jump over and
yeah I check out the comments he's very
active with responding always yeah
definitely but thanks so much for coming
on thank you and I will see you guys in
the next video see you guys
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